I think either Sojo or SM40 needs to consider following
1. very light trading volume recently, 50,000 shares sell order can easily drop 5-10 cents on this stock now. It went up with light volume and went down with light volume too. 2. very bad market recently. 3. Most of longs have loaded substantial shares to hold and don't want to buy more and more. Thus give shorts very easy way to manipulate this stock. 4. Lack of news from company.
I don't think TA chart can really help anything at this moment. And it gives investors very confused signal.
Thanks Nick. I just replied to David with my explanation and that is what happened . Some patterns work most of the time but not all the time. If trading was 100% we'll all be rich. It's all a matter of probability.