Sure Fed,
Let me explain...
In the past several rallies over the last 2-3 years, ITRO has spiked, last time as high as .018, and the time before that somewhere over .03.
In each of these instances, the price had a huge run only to challenge the top of the resistance band on the weekly Ichimoku Cloud.
In this case, and for the first time in 3 years, the cloud itself is descending into the price. This is similar to a bullish wedge where you have declining highs and a solid bottom. The end result is a breakout at the apex of the triangle.
So what we are trying to answer, is this question. Is this just another rally in a long downterm, or is this, finally going to be a true breakout and RUN RUN RUN.
1. This week: ITRO breaks .0030
2. Next week: ITRO breaks .0025
3. 3rd week: ITRO breaks .00225
4. After dec/31: ITRO breaks .0020
The above are the critera's required to confirm the ultimate bulish move. The one that signals the end of the 3+ year downtrend.
As you can see there are lots of reasons to believe that ITRO will easily pass these tests. Whether it does it tomorrow, next week or next month or early Q1. Lots LOTS of upside and not much downside.
Couple this T/A with the positive news and future projections I feel very safe at these levels.
You can also see that we made a multi-month floor at .0009, and signaled major bottoming activity. This is the catch that alot of people aren't used to looking at in T/A. This is not a 'fast pattern', this is evolving over weeks and months. We are VERY close to the apex now if not already through it.
The worst case for a bullish breakout is that we decline to .0015 and then breakout over .0020 at the end of the year. This is the absolute worst case and would be more of a scary ride. As long as we stay over .0020 into Q1 2010 we are golden.
