Indocan Resources Inc. (IDCN)

[ryall12]

here is a chart from today.
i had a target of .0016 to buy in this week but hesitated today. i agree the next run should be a good one, just not sure when it will start. there is some good dd on this board but no indication when news will hit so please see below.

the green lines are the bull channels. pps is currently on the bottom support of this run. if it holds there is no reason to think pps will not return to that upper channel, or at least hit the upper line of the middle channel, which is now off the screen.
great.
indicators are all way oversold. normally a good sign. but they are still falling so i waited for confirmation.

then i noticed the clear head and shoulders pattern in the macd, circled in blue. you can also see it above even though the neckline is not horizontal. this really gave me pause.
the blue line running with the 200 is base support for pps, an unbroken line. it also correlates to the point spread between the neckline and head top. if that lower green line does not hold (its at 14) pps may very well fall to the blue line.
however it should bounce hard there.

the green lines on the indicators represent the top green line in the current channel above, the one that was support until this week. macd and sto are way oversold and due to run. however the mfi shows an oddity in that money really hasnt flowed out yet. this also makes me think there is a possibility of pps continuing to fall until it reaches the line.

those orangish lines show the bear channel. there are a few days until its top and the green bottom meet. all answers will appear by then if not sooner.
hopefully the channel holds and i will have to chase pps up over 18 into 20 again but wanted to throw this out there as i know several of the people on this board.