I disagree with your technical analysis. We have shown that support @ 016 has been too strong. Anyone that was lucky enough to grab the few shares that passed hands below that is very lucky.. 02 + coming Monday . MACD working a mean bullish cross..
I agree, .012 will be tested and when that happens it is more lkely going to cause more selling from frustrated traders/investors...which will cause further decline and pretty much go subpenny before a hard bounce back up..happens everytime on every penny stock..yawn..for the most part penny stocks are always going down...they have their moments where lucky risk takers can catch it on a bounce, but ive seen over the years the general trend is always bearish on a penny stock...best time to make money on them is on the initial pump ups in pps..or during capitulation buying the stock at fire sale prices because their is blood in the street and riding the dead cat bounce
Got in ICPA at .013 and back out at .025 and seemed to hit the wall at .03 and settle back down again around .022
My guess is we are heading back down to test .0112 but this would be a triple bottom. Seems this is still a strong bottom and being a possible triple bottom could we then possibly see another run toward new highs or are we more likely to break the .0112 and start a downtrend?
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