Elite Pharmaceuticals Inc (ELTP)

[HankVerde]

Stock charts are nothing more than a pictorial rendering of human psychology. The patterns show human emotion. I did a quick search and found this web site. I am not recommending it as something you should subscribe to. In fact, I've never seen it before, but the first few paragraphs give a nice, brief, explanation about stock charts and human psychology.

www.swing-trade-stocks.com/psychology.html

We had a fairly strong close and lots of volume, almost identical volume to yesterday. Whoever is dumping millions of shares, the good news is that it appears they are being bought up and now the stock price is actually rising a little, indicating more buying than selling (duh, pretty obvious huh?). Unless millions of more shares are dumped at the open tomorrow, we may be stabilizing. We need to close three days in a row above $0.12 to form solid support at that level.