Chart FormationsI have never been completely sold on the idea that you can gain any insight from looking at charts of micro cap stocks, but that being said.....
The previous observation I made was last year when it appeared to me that we had a pretty clear "Cup and Handle" formation developing, but that was destroyed by the selling that started on November 9th. As soon as the price fell below $.30, (in todays terms), the handle was toast!
Today I look at the chart and wonder if I see a fairly extensive "Inverted Head and Shoulders" formation that started about mid-Oct 2018.
If so, and if the stock price continues higher to $.40, the second shoulder would be completed giving us a very bullish target of $.80.
As I said, I don't think you can put too much faith in charts with this type of stock, so I am just having a little fun as we progress through the month of March waiting for the ASX listing to happen.
Chip