your analysis could possibly apply if this was some other stock out there , even then i dont see it correcting lower than .04-.045 area
all chart analysis most likely falls apart here cause what we got here is stock that can cure/treat cancer(at least thats what company is saying) and could just skyrocket any moment leaving all chart analysis in deep in the mud
and also it could be that company lied and made stuff up and then all chart analysis falls apart too
to me its all about believing in company and in cbis i do believe