RE: RE: RE: RE: RELAXResponse to noodley:
I cannot predict past my target price of .85 for June as it goes too far into the future and the charts have to be reassessed continually. Even this unexpected pp sell-off affected the charts as they do not take that into the equation, just as say a partnership with Phizer would totally change the appearance of the charts and would be redrawn once again.
That .85 target of mine is comfortable for me because it falls within a comfort zone re: marketcap compared to others in this sector. In fact, I would suggest it is on the lower end compared to other companies, and if the next round of reports are favourable as it seems they may be, there is no reason why the share price would not be much higher. But for now, little steps.
When I draw the channels for the weekly chart, there are two channels that I can draw that give me two different price ranges.
One suggests this stock can go as low as .18 and as high as .48 during the next leg.
The other suggests .235 and .55 for the next leg.
I am having trouble finding a real comfort zone right now, only because of what has transpired this past week, but if I were to make an educated guess, I would stick to .235 low to .48 as the zone for the next leg (channel)
.185 would be very dissappointing because it would mean I personally totally blew the trade and would be basically starting all over again. Not the end of the world, but a cruel reminder (not selling in the .40's) of why emotion will get you everytime.
Note: just because I see .48 for the next leg does not mean it goes straight up. There are too many resistance lines along the way where the battles will occur.
The charts show me that it could be weeks in this range before we would be set up for the following leg upward. Again, this does not take into account any significant news good or bad.
Bottom line, after we get through this recent pullback, I feel comfortable in stating that I see a shareprice in the mid .80's sometime in June, give or take a month, and if we get the results we expect going forward, a very strong possibility that the shareprice could be much higher.
This is all just my opinion on my analysis of the charts and as I have stated before, 70% I am correct, 30% I am wrong in my assessment.
Happy Trading all
Mediascan