Daily Positives S/t support last week held at .105 Stoch 5 is...

Daily
Positives
S/t support last week held at .105
Stoch 5 is above its sig line & below the oversold line
Stoch 14 has returned to its sig line & is below the oversold line
Both stochs are rising while the sp remains flat (divergence)
There is a bullish divergence between the MACD & Histogram.
Volume has remained low and appears as buying after the selldown from the 12.5 area in reaction to the rights issue.
That sell down was imo another failed shakeout attempt in response to the rights issue.

Negatives.
The MACD is below its sig line & trending down
Stoch 5 is below the oversold line
Stoch 14 is below the oversold line
The Histogram is below zero.

Outlook
The price action at the end of last week again has the look of another set up for a further shakeout / sell down.
The indicators are already oversold so if that does happen it may not draw out much volume.
The downside target in that event is around the top of the gap at .095 - .098.
On the other hand, the rising stochs could jut be the start of a rally.
The situation should be resolved after the rights trading is finished.
Support is 10.5 & 1^st resistance at 11 then up at 12.5 – 13.


Weekly
Positives.
Support at 10.5 held (third time)
Volume was half the prev. week.

Negatives.
Stoch 5 is below its sig line and appears likely to cross below the oversold line
Histogram has turned down & failed to cross the zero line
MACD is moving away from the sig line & trending down
Weekly support is 10.5. The next support down is around 8.7
Resistance is around 12.

Outlook
The low spread / low volume gives me the impression that we will see another attempt to push the sp down.
My model shows a low alert signal indicating the potential for a lower low than last week’s close which backs up my general feeling of another shakeout attempt coming.
From the previous half a dozen attempts they have proved that they can push it down but don’t draw out much volume.
The sp will only recover when we get some good news being released.