Leeward Capital Corp LEWCF

RE: TA

[Bentonstocks]

I previously wrote:

"Techically, bullish ascending triangle pattern forming on the weekly starting with the low of 6 cents in May and bouncing off 10 cents on the top. If it holds we should see a move back to 12 cents in about 3 to 4 weeks when the triangle closes. Of course, news trumps TA, so anything positive or negative would likely break the triangle before it closes."

The ascending triangle I thought I saw now appears broken, as we failed to closed the week high enough to hold the pattern, but at least we are on an uptrend long-term since our low in summer 2010.

Anyway, I was not actually looking at properly detailed chart when I thought I spotted the ascending triangle (it was one of those quick charts), but in looking at a proper weekly, the triangle is actually more symetrical, which means it could go either way when it closes at around 9 cents in few weeks... If the pattern holds. To the way I read charts, we are now resting right on the long tem support line drawn for from our 2010 summer low. I see support at the 5.5 to 6 cents area if we fail to hold this 7.5 to 8 cents and move up from here, but I do think we are entering turn-around territory according to the weekly chart.

Of course, and significant positive or negative news will likely have an effect... 
 
Feel free to trash or post alternate interpretations.

Regards,

B.