PHAR - Daily Chart Analysis - Obviously this stock has been in a recent down trend. A price trend in motion tends to remain in motion until acted upon by an outside force. That force (when it comes to the stock market) is volume. From March 19th through April 8th (looking at the chart - link below) shows significant volume in support of the price in the $0.0004 to $0.0006 price range. Subsequently, the price rose and is now seeing firm support at $0.0008 (on less volume but, firm) That tells me there is a reluctance to sell at that price. Therefore, in my opinion, it is possible now for at least a brief price rise to approximately the 84 day MA currently at $0.0025. If it happens, that would also complete a normal three wave price correction in a bear market (Elliot Wave Theory). Whether the price will continue going up after that, is not clear on the chart at this time. Do we have a new bull market starting? Perhaps. Is this only a bounce in a bear market? Yes, at this time that does seem the most likely thing. How can we tell if it's a new bull market? If following resistance at the 84 day MA, the price makes a normal Fibonacci correction (4th wave) and then launches a 5th wave up that finds support above the 84 day MA, that could be an indication of new bull market. It would also be possible for the price to retreat all the way back to the $0.0004 price range or lower forming a double bottom or 1-2-3 bottom and (if the volume is there at that time) a new bull market could emerge at that time. Just my opinion! If you've got stock now, you might look for that rally to $0.0025. If you're a risk taker, you might wait for Oversold conditions and buy in for a short-term trade with the potential to double your money. But, of course anything can happen. In my opinion the most probably course is for a rally to $0.0025. http://stockcharts.com/h-sc/ui?s=PHAR&p=D&yr=0&mn=5&dy=0&id=p56577974766&a=248902915&listNum=1
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