KMA Global Solutions International (KMAG)

[museman]

Two charts have important updates. The cup and handle formation has indicated that the bottom is in and a new uptrend is in place. The first major resistance beyond .01 is at .014 where the massive break down occurred after the suspension. If the latest PR is realized we may expect an upward burst similar to that seen in March. In that case, with some hesitation at .014 we could expect to see a run straight to the .02 area and probably higher. The Elliot Wave theorists call this the initial impulse wave, relieving pent up demand. How high this wave goes depends on momentum. Until this wave occurs backing and filling in the handle channel would not be unexpected with tough resistance at .01.
The next chart suggests two possible uptrend channels, one in green and one in blue. With no uncertainty the red indecision triangle has been broken and the breakout has been retested on higher than usual volume. A possibility would be for the price to creep downward along the declining tops line (red) into January. Resistance of the two uptrend channel possibilities is at the .012 - .013 area and long term resistance at .014. Again, another possibility would be a spike up on long awaited news that breaks the price out of these trend channels and into resistance level areas that are best shown on a long term chart. .05, .12, .26 and ultimately to .45, .60, 1.05 and 1.35.