Forget the conspiracy theories. People have been selling because...

Forget the conspiracy theories. People have been selling because it has been hitting stop loss levels. You can relax. The smart money is moving in, because this is probably the best risk-reward play in the Aussie junior gold sector, and for that reason I also bought some Friday, for the first time ever.
First the funnymentals. Forget PER, IRR, NPV and the rest of the alphabet soups. There are only 2 things you need to know about a junior gold producer. 1. Is it likely to need to raise capital during the probable period of your investment? 2. Is it low cost. If the answer to either question is yes, don't touch it. AXM has already had the capital raising, so is safe on that score. It is also high-cost, offering greater share price leverage to rising gold prices.
In terms of technicals, there is one key thing I look for. A support level that will give me a low-risk entry. In this case, if it breaches 19, I'm out. So the risk is 1.5 cents a share, and the reward, well, pick your own number. Good luck.