NeoMedia Technologies, Inc (NEOM)

[jonesieatl]

ss9173 ...

As you saw in the chart in the post you replied to, NEOM 'broke out' above the ST downtrend line a while back, 3 days ago actually, on good volume, and with a gap up.

So, there was a 'breakout' above that.

Then there is/was the resistance at .05 which NEOM just gapped up over, so there was a 'breakout' above that, albeit it on lower volume, some re-testing of it as support, and then the current continuation.

So far today, this 'continuation' is on even lower volume, but hey, it's still decent volume, more would be better I suppose.

There really shouldn't be a whole lot of resistance at .06 IMO.

See the chart below which has a longer timeframe and shows what I think could be various resistance levels on the way up, based on past trading in these areas, and based on gradual growth based on improving prospects. Of course, huge news trumps resistance levels to a great extent.

If buying interest keeps up, there will of course be flippers taking anywhere from 25% to 50% and more profits at various points, and rightfully so.

There will also be 'profit-taking' perhaps by long longs who averaged down again and bought more at .04 and up, recouping parts of previous losses but perhaps getting their overall stake in Neomedia back down to originally planned amounts.

A 'breakout' above .084 on heavy volume would, to me, be really key.

One thing about having come down so far and having traded lots of shares at various points on the way down ... there are lots of points from which to 'breakout' now.

I probably didn't answer your question ;)

JMHO -jonesie