I dont think that there are any support levels with this stock.Its impossible with restricted shares becoming unrestricted.Plus with the news of a r/s coming.Plus we dont know if the company is diluting shares.JMO
Confirmation obtained on Bullish Hammer candlestick pattern on 21 Nov. Breakaway Gap Up at open of 23 Nov on good volume supports continued move toward extension target. Confimation will be obtained for extension target when PPS exceeds .18 prior High.
Disclosure: Any chart technical analysis provided is my personal technical assessment of the indicated stock and should not form the sole basis of any buy or sell decision making by any reader. Any decision to buy or sell any stock should be made only after careful due diligence on the part of the investor, and not be based upon any third party information or investigative data.
Comment: Wednesday's close above Friday's Pivot Point of .1010 indicates positive bias, and continues to indicate a normal retracement. Wednesday's white candlestick confirmed the Tuesday Bullish Hammer candlestick pattern ( http://www.candlesticker.com/Cs18.asp ). A BUY is the typical recommendation with this confirmed pattern.
The reversal should proceed to test the MSH2 price of .1800 to confirm continued movement to the primary extension target. The 1.382-1.618 extension target is in the .240-.278 region, which equates to the 01/05/07 and 03/08/07 prior highs near .25 per share. The price amount of this impulse leg should approximate or exceeed the initial impulse wave one price amount between .022 and .18 cents or approximately .16 cents.
Disclosure: Any chart technical analysis provided is my personal technical assessment of the indicated stock and should not form the sole basis of any buy or sell decision making by any reader. Any decision to buy or sell any stock should be made only after careful due diligence on the part of the investor, and not be based upon any third party information or investigative data.
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