Hey Doc, Good morning CERP Traders .... here's the thing ... the stock is not trading within the channel. The ascending channel you have drawn is correct but even the candle from the week before last breached the bottom trendline & could be viewed as a cause for a breakdown. Now last week we also traded below the channel's bottom line. I'm just making a reference ... you can clearly see this on your chart. Having said that, gaining some momentum might help the T/A bounce and get us back within the channel for good. We need to start this week off back in the channel, find some volume and at least stay above the 50MA. It's all we have left to support a move up. That support line has been tested a number of times and you have to believe it can continue to hold.
Getting straight to .18 is a bit of an over-encouragement though possible I want to see us back in your channel and get through that hard .042 resistance and today would be a good day to do it so CERP interest is not lost. As luck would have it Kenswift presented this board with the March 5th Patent approval and so at least we know that IHubbers are aware of this, but it has yet to be announced by the company.
That little treasure-find as good as it may be ... imo ... is not going to sustain us much longer and the question of a PR being released in what seems to be CERP's Quiet Period is on everyones mind. Will they release an 8K? Will they give us at least 1 final PR filled with Rev's along with the patent news?
We have exactly 26 days before R/S and a 2 Billion share increase along with other CERP business can be voted on by shareholders. We have 16 days before any one of us could view how others are voting if you want to actually take a trip to see the CERP open books on the matter.
So ... where does all this lead? The good news ... no GREAT NEWS is the 50MA is not just flat anymore, it's clearly curling up. This is awesome T/A and cannot be denied. Because of this one little line of technical force, this one last stand, the overall support of which could be broken still but seems way to strong to fall victim of shorting, convertibles, dilution, selling ... No, this .030 50DMA I believe will continue to strengthen even on average volume and should begin to take us higher this week.
We should have one last decent run to cash out before April 5th. I too believe the company wants the pps higher before a R/S is approved, (Keep in mind) if everything is approved they can still wait 1 full year before executing the approval, so as I continue to exit my positions (slowly) I might add, I still expect to see my .07 target hit and wish all of you a prosperous week ahead.
--Ocean--
AI
