chart analysis

Now I'm pretty new to chart analysis, but I have been looking at the NSL Daily and I noticed the following.

May 19. Bull shakeout. Open and closed the same price with a bullish intraday high. This indicates a bearish movement is about to occur.

May 20 & 21. Consecutive bear shakeouts (open and close the same with a long tail attached - May 21 intraday low of .042 I think).

When Bull and Bear shakeouts occur next to one another it indicates a point of agreement. As you will see the SP stayed pretty much spot on 5 cents for the next 6 trading days. A point of agreement had been reached and the volume dropped off significantly.

The point of agreement is usually followed by a move in direction and in this case BANG up she went. Very bullish signs all round here.