GREY:LEWCF - Post by User
Post by
Bentonstockson Jan 22, 2013 11:57am
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Post# 20872314
Weekly chart
Weekly chart From a TA perspective, it looks to me like LWC might be starting to pull out of its downtrend. Its butting-up against the top of the long downtrend line on the weekly chart from .16 cents down to the current .02 cents, and you will note this our dynamic resistance line based on the fact its touched this line a few times during the downtrend. The .01 to .02 cent area has generated some decent buying, so I am expecting our bottom is in. It could move sideways here for while, or might start moving back up. A move on good volume to .025 or .03 cents would confirm to me that the down trend is broken and and we are moving back up... This thing is so way undervalued its not even funny... Anyway, the first major point of resistance would be the .05 cent area, so if we get there, we will need something big to generate enough volume to push us past that level since there is likely to be quite a bit of selling at .05 cents. A sustained move past .05 cents would be very bullish.
I mananged to pick-up some more shares at .01 and .015 in recent weeks (a steal IMO), and my average is now well under .04 cents.
Regards,
B.