TA UpdateScares me to see some int posters on here as they seem more apt to trade on hype and rumours. That being said, the stock was painted to close at .15, real close in the trader's book would be .145
The stock..."on this great news"...could not hold above the ma50 which is typically a critical line to break through and hold in order to sustain a positive uptrend.
The stock also bounced off resistance at .17 (ma100), which is a significant resistance line.
The stock now has a gap at .13 that will be filled eventually, so that will be in the minds of all traders.
On the more positive side, the RSI just moved over the 50 line and the MACD does look like it wants to cross over positive although that could change just as quickly on Monday.
The trader was in on the double bounce off of .11, but took the .17/.16 at the open yesterday.
The black candle suggest the market didn't think of this a too exciting an event.
The stock will now need to break through and hold the ma50 as well as the ma100 to attempt a run at a top of around .21/.22
Happy Trading all,
Mediascan