RE: 2t3m and mediascan, some thoughtsI hear what you are saying about .45...and thank you for correcting my resistance number. I was saying .44 but it is .45
That being said, it was tested twice on the daily chart and typically will take 2 to 3 attempts to break through a strong resistance...calling it strong as it did fail twice already....that being said....it has been tested twice, so not so "strong" anymore, and I would have to agree with you that we could just blow right through this resistance now and go right to that .55 resistance line.
I personally like that Joe is on our team at the price points he agreed too.
He has taken out the sideline fear of "why would I buy this stock as it will just be sold off again?"
So I expect this strength side from the US to continue today and a nice rise in the price tomorrow and throughout the month of January, especially with the prospect of some more nice releases to be presented.
I personally believe we test .66 this month and chartwise would be very surprised if we didn't.
So even a trader looking to buy at the break of .45 is thinking he can make a quick 30% on this play within a few weeks.
Happy Trading all,
Mediascan