KMA Global Solutions International (KMAG)

[museman]

The chart is still showing uptrend patterns despite the Friday takedown. This was not a high volume event and represents around $25,000 in trades. Last week the chart suggested that until volume picks up we can expect wild swings and and a general downward slope along the declining tops line of the red triangle. The price is now again within the triangle, but the pattern itself was nullified when broken to the upside. Now the red uptrend line is long term support at .005. The drop to .0065 demarked a near term up trend channel in blue. With .01 being formidable resistance that blue uptrend may become a wedge with the purple line as the horizontal and the lower blue line of the channel as the diagonal.
Last week I suggested that until there is news to create volume, we can expect spikes in either direction and it would be tempting to get pessimistic or over-exuberant during these moves. If one accepts the future projections of KMAG's fundamentals then now is a buying opportunity. If one is cynical the best selling zone has been around .01.