(edit)badger, the 20 day simple moving average has been serving as support for those that pay attention to such stuff. that is currently around the 3.60ish range. the 20 day SMA has been bounced off a number of times in the last few months, the actual price point being different for each event in reflection of the nature of an SMA. clay was making a point out of three bucks and the notion that the more days booked above, the stronger it becomes (based on the notion that it had served as resilient resistance). in any event, if one looks at the 10 day SMA and the 20 day SMA, activity above the 10 day is transitory, activity below 20 is very rare and brief. again, trading above the 10 day occurs violetly but briefly, trading below the 20 day SMA is very rare and very small and very brief. at least in 2010 that is. in 2010 the equity is trending higher with the 20 day SMA as the floor and spikes above the 10 day SMA.
edit: i should say the 10 day SMA is leading the the stock as part of a general climb, and the 20 day is supporting the stock. the stock is spending a lot of time above the 10 day SMA.
chart-wise 20 day SMA is the support.
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