KMA Global Solutions International (KMAG)

[museman]

This chart connects closing prices eliminating intra day volatility and depicts a downward trend channel that has been quite accurate from mid April until the last two days. The break out above the channel resistance would normally render the end to the channel. The retrace to .005 would indicate a normal snap back leading to a buy signal.
However, the break out was not a high volume break out and is suspect. Recent intra day price plunges to the (blue) rising bottoms line portray a bottoming period within a long term triangle with the top being at .014.
The red down trend channel now is no longer predictive as a result of this weak break out.
This chart has served well to warn off buying at the top of the channel; and to set support levels (light blue) for dollar cost average buying. Now the relevant lines are the support lines at .005, .004 and .003. The breakout to .0068 shows how little resistance there really is.
If news, trading volume and a more liquid trading exchange become real, then a quick run to .014 is a given. After that KMAG would be in a new bull phase and levels much, much higher are inevitable.