I just had a look at the chart and really the current support and resistance levels, and trend direction are really quite obvious. See daily chart below.
Current resistance level is the level of the Ultra-High Volume Close at 6.3c of 31/01. Its a shame this Anchor Level didn't turn out to be support rather than resistance. The Investor (blue MMAs) are providing support currently around the 5.7c level. The current trend and momentum direction is flat (sideways). The MMAs suggest that the short term trend direction is biased to the upside. Any fall below the Investor (blue MMAs) and more importantly the 50 SMA (blue dotted line) will see the 5c or less levels visited again.
I'm watching the chart closely to see if any "whispers" from the market are in play. I was hoping that the strong rise on 13/02 may have been one of these whispers, but alas that wasn't the case. The Market is still wait for some news re the 4DS testing of the first wafer. I think we can expect some further sideways action until that news leaks or an announcement is made.
Good luck everyone - All IMO of course - Wilf
4DS Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
