Replies to post #35550 on Imagination TV Inc. (IMTV)

[dmlabuda]

Daily Chart Analysis - YESTERDAY (technically speaking) was a key reversal day for ICPA. The candle shadow and high volume spike indicate considerable profit taking and perhaps some short selling. I would expect the price to make an extreme correction due to the Extreme Overbought conditions of the market. At the very least that would be to the 68% Fibonacci price correction point at $0.0230. At worst, the price will retest the 200 week moving average currently at $0.0145 (but, that is a moving target). The Major Price Trend remains DOWN. Should the price test and fail support at the 200 day MA, the downtrend would most likely continue. Just my opinion! http://stockcharts.com/h-sc/ui?s=ICPA&p=D&yr=0&mn=6&dy=0&id=p00379301666&a=257286122&listNum=1