Well as predicted we have touched a bottom of 13c and traded...

Well as predicted we have touched a bottom of 13c and traded sideways and low and behold broken upwards out of the down trend...Whatderyouknow...


It needs to close above the upper trend line to confirm a break which Im sure it will.

We now have three points on a medium term upwards trend line which will have considerable support going forwards...

Project the line from the low on the 1st Oct , low on 28th Oct to the Low today and you have your trend line...This is now the 2nd "solid" floor for this stock the other being around 10c. The upper band would seem to be around 17.5c today but that will need to be confirmed later and will rise with time...


As far ar the capital raising on the 13th Dec is concerned the market will have factored that news into the price already IMO. It is not a surprise, we know is coming. So I don't think it will have a great impact to the SP. There will be some weakness around that time however...

As always caveate to this will be bad/good announcements or a dramatic move in the market either way...