Imagination TV Inc. (IMTV)

[dmlabuda]

Yes, double tops are usually followed by a significant drop in price. Right now, it looks to me like we will see a retest of $0.012 and if it supports there a second time (and I think I will) then we could see a rise in price to the 84-day EMA and possibly even the 200 day MA before it reaches firm resistance and another price decline gets underway. At this point, I would expect to see the price go much lower before it achieves new highs. One reason is that so far we only have one leg down off the double top and at least three are required and usually 5 occur. So, I think a drop in price to the $0.0025 to $0.0050 range makes sense but, anything can happen. If we get firm support on a retest of $0.012 and the market attracts new buyers at that point, we could still have a false double top and new highs could be achieved. This is all speculation on my part because there is no way to accurately predict either of these scenarios at this point. The only thing I can tell you with some certainty is that I believe we will see a retest of $0.012.