Seafarer Exploration Corp (SFRX)

[pyro2]

No surprise that there was profit taking in SFRX after a +400% run in a month. Looking at the chart it appears we are at a support level now. Some consolidating and leaning south.

Below here is a very strong support at about 1 cent. Resistance is up at about 2 cents until we break it. The longer term trend looks to be still good, on a short term, perhaps the trend is on the weak side. IMO Long term MAs good. Probably oversold too.

I think the smart money may move in quickly and not wait for the lower level. We may oscillate in the morning between those points, look at your level 2 in the morning and see how its stacks up. BUT we have the marketmaker(s) to contend with, and I can not read their minds or check their pockets.

IMO, we will retrace soon, and break through 2 resistance. If not, I love a sale and would be shopping at the one penny store. Check it out yourself, know where you are heading before you start.