Interesting chart, Jonesie. I've been watching it, initially I thought you were just connecting lows at the most recent low, when it hit that low, meaning it was somewhat arbitrary. I thought the better line would've connected the first low, the next low in mid April and then through to the late May points around $0.70 or so indicating it a big break down (I forget how you post pics, or I would do so). But it has stuck to your trend line, so far.
On the other hand, I see it as having absorbed the news (so far not really a 'catalyst' someone was claiming it would be), ran up to the 50 day ema and, so far, is failing to power through it. It is still below the 50 and 200 day ema's which I think make it challenging to breakout. But if it can, it'll be a pretty strong one. It has a chance as I think the news was somewhat impressive, well, for this company. Still no operating profits (interesting to note, the value of the company increased by about the same amount as the upfront payment) but a more credible partner taking the reins.
Next few days/weeks will be interesting.
As always, all of the above are just my opinions, no facts are asserted.
