InvestorsHub Logo

4Godnwv

01/09/07 8:06 PM

#39779 RE: C C #39776

re: DNAG - (2 charts):

1st let's look at a daily chart. As you can see, the pps fell all the way into the 7's before bouncing. Really nice one day bounce to the 100dma where it collapsed again, touched bottom and began a much slower trek northward. Notice also that upon arrival at the 100dma the pps stopped, regrouped and tried a second time. Today it broke through on good volume, running all the way to previous resistance at .013ish. There is some resistance at .0138, (note: the 200dma lies there) then very little until we encounter previous resistance at .0177.



Looking at the weekly the same principles apply as far as resistance points, except we can extend the resistance to two addition levels - .025ish and .034ish - Note also that we just cleared the level below @ .0109, which should now act as support. I have drawn the channel, whcih includes the uppertrendline you were describing in your post. Note that DNAG has broken out of that channel.