Grapefruit USA Inc (GPFT)

[madtig6]

Volume: 2 million and .12 busted as support

The chance of this closing over .12 in the near future without some REALLY GOOD NEWS is very low.

My educated guess is .11 will fall soon and then .08 would be in the sights rather quickly.

There is just no technical reason why this won't fall apart down here.

Again, news will probably account for a retrace, but , remember , if we start that retrace from a LOWER pps, the actual target will be lower.

For instance, if we were to start a retrace up from .11, the likely resistances are the Fibonacci numbers above-- that is .14 .15 .16

Example:

http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=4&dy=0&id=p27884873386&a=230351532


Now, if it gets to .08, and then retraces to the same Fibo numbers, they will be quite a bit
lower however.

I just don't see anything to be optimistic about at this point - people are going to lose money until an ACTUAL approval by the FDA takes place.

RE submittal bounce won't be enough to save most posters here.