It has fan out from a base of $0.05 [?] and has touched the resistance at $1.80
may retest or make another high at $2.00.
Price-Volume on a whole has been very bullish the past several months.
Only thing is this month with a higher volume it has yet to make a new high.
Although the candle for the month will only complete next week to determine
if its below or higher than previous high.
If below, a bit of consolidation or correction may take place.
Stochs is near extreme over-bought. On a monthly basis.
$1.80 is key level now, to see how prices will negotiate this resistance.
Next level will be the long term resistance line at $2.00.
Drilling in abit more to see the weekly price structure, the correction to $1.20 could either
be a
wave "a" - which means prices is nearing completion of wave b and a downward "C' to follow or wave 4 - which means currently wave 5 is in progress which may topped at $2.00
possible scenatio :
Currently a corrective Wave B advance is in progress
and any corporate develpment is already priced in
and Wave C down to follow.
With daily stochs and monthly stochs at extreme or nearing extreme, upside maybe limited
Prefer a play to the down side at current level or higher or at $2.00.
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