There are a lot of shares on issue and speculators have been...

There are a lot of shares on issue and speculators have been severely burned especially as the sp plunged from 20 cents until the rights issue. Investors not taking up entitlements will either cut losses or wait for positive news from the company before toping up again on speculation.
Charting probably will not provide any direction as the sp is at all time lows.
We may have to wait until the quarterly to get any indication of success or failure of management's "last chance" to "get it right".
I agree this project has very good potential to generate good profits if all goes to "plan".
I,m just waiting for some news before deciding my next step.
Strongly advise DYOR.