Grapefruit USA Inc (GPFT)

[madtig6]

Weekly chart update.......................................

While the never ending story / debate goes on and on here, some tech info:


On a weekly basis, as you can see, since Dec 1, 1010, .14 has been support. We are now into the apex of the uptrend ( really a side trend) and the downtrend line. Price will have to "break" one way or the other.

There is no support below .14 based on the previous price-volume history. What this means simply is that not a whole lot of trading went on in this area of price in the past.

The next support area is .076 - .08

Momentum indicators are neutral to downward bias.

As Nihonto Chicken would say: The 20 Bollinger Bands are "pinchy pinchy" - meaning the pressure is on for a break - one way or the other.

My take: Because it seems to be the general consensus that any re-submittal could still be weeks away, and because the pps is running out of steam (momentum), my GUESS is that we will break .14 and rapidly descend from there - maybe all the way to that .076 - .08 support.

I have acted upon this info re some of my remaining shares for a decent profit..... still holding some - just not as many as before.

If no new info is forthcoming soon, I feel quite confident the price will break down

Chart:

http://stockcharts.com/h-sc/ui?s=IMGG&p=W&yr=1&mn=4&dy=0&id=p68729561985&a=228108388