Johnnyv, thanks for the chart! However one thing I must point out is that is not a valid descending triangle when you take it back to beginning of 2007. Bulkowski discusses chart pattern statistics in his book (encyclopedia of chart patterns) and also discusses the proper way to make chart patterns. By his definition, your chart does not fit a descending triangle, one reason is becaus you cannot have that much empty space from Mar 2007 until now. Also looking at the short term pattern, it really doesn't fit a descending triangle either.
However, your points are valid i.e. that support going back to 0.55 is lost. Also that quick runup from Mar 2006 - June 2006 (from 2 cents to 2.5) is a 'thin zone' and DOES NOT offer any support what so ever. This stock needs miracle news and buying and needs to ge back over 0.55 - 0.60 quickly
News 
Market Data 
Discover 
