Xechem International Inc. (fka XKEM)

[mediascan]

Strictly TA
Well its been quite a while since I have played xkem.
Those who remember me, I stated in my TA that the stock should test the June gap at .015/.016 area.
Well it looks like that will come to pass.
This is tax loss selling time, so the odds of this happening are more probable than not.
Since there are 26 days until the end of the year, the possibility of the stock going to the large support at .010 is still in the cards.
The only way it will go there though is if .015 fails.
.015 holds, then that should be the bottom and the gap filled.
If not, then .010 becomes the floor.
Most traders will not be buying yet. They need to see if .015 holds or not, but as the year comes to an end, and the bottom is established, the stock should see support come back into it once again.
Hope this helps.

MS