I can only chuckle at the ill informed amd immature posters scrambling to be right every time SFMI moves down to test support.
And anyone who looks at a SFMI chart less than 3 months in duration is only seeing mud. There are 2 distinct patterns which have emerged on decent volume since mid Sept. when the price spiked to $.31 at the SH meeting.
[1] A compressing wedge triangle...the descending line formed from Sept. and Dec. highs, and the ascending line from Oct, Nov. and current lows [$.18-19 this week].
[2] Rising channel...upper rising channel line formed from Nov. and Dec. highs, and lower rising channel formed from Oct, Nov, and current lows.
Bottom line: It looks good until it doesn't, and only a close below $.18 Friday would indicate any real change in medium term trend. Stocks like to bounce off of upper and lower parallel trend lines, and only a clear BREAK OUT of a channel pattern or wedging triangle pattern indicates an emerging new trend.
SFMI doesnt chart worth a darn with intrday charts, so please toss them. Even a spike uder $.18 that closes back above is still bullish for the medium term.
Pure and simple, SFMI rose to top of rising channel on expectation, and came back to near the botton on disappointment.
Just remember that these channel lines are RISING!...that's a bull, not a bear......CV
i
AI
