looking good technically I don't believe using technicals for stocks priced under $15.00 as these indicators are not foolproof.
Penny stocks can be manipulated so easy. If you look at the Java charts and use the indicators macd,Volume stochastic and rsi etc. on Stockhouse. (When I play the S&P futures 500 there are over 15 different indicators on my trading platform and can all be adjusted.) These simple indicators which you CAN'T adapt to 1 min-5min -10min and so on but just a casual glance at these will tell you the stock is Probably being sold. (As I said technicals are very foolish to use on penny stocks) If you watch the volume it will tell you a lot VOLUME moves stock but you don't know which way it will move. (Look to see where the price has moved from) So look for diversions of the price with the other indicators. i.e. Look for two high points on the stock price, now compare these two high points with the high points on the other indicators. The two high points on the stock price should create a level or a line pointing up and you want to look for a line pointing down on the other indicators that correspond to the same high or low points on the stock price and check for a very high volume within those two high points. The more of the indicators that show a diversion to the stock price the better chance you have of being right. Experience shows at least four indicators diverting from the stock price and you have a good chance of being right (Except for penny stocks) Fundamentals also play a big part and you must use both. especially when trading futures.
So that is my simple method I use and a 5-10-30-60 minute or longer MOVING AVERAGE VOLUME chart is excellant. This also works with day trading high priced stocks Canada and the US. Been there done that and never Quit learning. Hope this helps someone and I wish all you the best. P.S. I still lose money but know when to take a loss. there is also a good indicator where you can break down the buying and selling for the day and use that as a diversion indicator Also called accumulation and distribution. Don't mix it up with adding total volume and subtracting total volume from a up and a down day. That is pie in the sky bulls--t. There are many different ways to trade and unless your are a insider or get information not available to the majority of the people you must learn a system, because they have to sell to you and the volume will tell you most of the time. Most other indicators fine tune when to get in or get out. Au revoir.