Fuse Science Inc (DROP)

[Aksys]

IMO, .18 would be the lowest level we could touch, barring any bad news. Although support at .20 seems to be substantial, there is always the chance of high intraday volatility in a penny stock.

There is a lot going on at and around .18: the 100 and 200 MA, a recent high (Oct '12 dailys), and it's where the current short-term uptrend line points (started in Nov '12, dailys & weeklys). My view is that if we broke this level, we would see quite a bit more downside (.14-.15 or so) ... but I find that to be highly unlikely.

Looking at the chart shows a very well-defined and easy to read uptrend which has unfolded over the last several months... the bottom line is that technical analysis can and does work on a pink. Unfortunately, I know that some will wish to intentionally remain ignorant of a tool that can be highly useful... and perhaps I should call my broker and tell them to remove all realized gains from trading DROP based on the technicals, because there is no conceivable way you can benefit from technicals on a pink.. :) (Sarcasm of course.) I view DROP as an investment as well as a great trading opportunity to make a few extra bucks.

Anyway, as for reward, i absolutely agree that we will see .30 in the very near future. My guess is that once we get there we will hover in the .30 to .35 range for a while to consolidate. That is, unless we get more good news... which is certainly possible.