Xechem International Inc. (fka XKEM)

[SuicidePill]

A close over .031 causes a green candle on the daily chart. Under .031 red candle on daily, and then red would continue for at least two more trading days. A red close (under .031) means a close under the MA50 and a further drop to the MA200 (.018) is likely. In fact there is support closer to .01 which is where there may be a bounce. A close today of under .031 will be a complete breakdown in my opinion. I don't believe there has not been enough volume today at .031 to call this capitulation and a bottom.

Looking at the intraday chart, I see a double top today at .039, which is where it topped yesterday after the initial intraday bottom. So that's a strong resistance. Depth is showing selling pressure at .034 and just under as orders jump in just under the blocks at .034.

Supports .031 then .022 then .018 then just over .01.