chart, page-15

AXT found very short term support at the 41 day ema and then fell through support. It happens. I remember Redbacka making the point on the XJO thread one time that these points (like the 41 day ema) are important support/resistance lines but they are not impenetratable brick walls......

......however none of that detracts from the fact that AXT is potentially a sleeping giant. The deal AXT has with Xtrata is not all that dissimilar to the deal RXL has struck with teck resources. When RXL did their deal Miine posted an old but interesting kitco article from 2006 about assessing the potential ofjunior miners .... and in my opinion both RXL and AXT fit the criteria outlined in the article.

full article :
http://www.kitco.com/weekly/paulvaneeden/jan202006.html

and I like this bit (which refers in this case to Xtrata coming on board) :

"With this model the exploration company has to convince the geologists working for the mining company that its projects have merit. Not only do they need to have merit, they need to have sufficient merit to compete with the exploration projects generated internally by the mining company and all the other exploration projects being presented to the major by other juniors. This is a lot more difficult for a junior to do than to convince doctors, lawyers, dentists and taxi drivers that its projects are one drill hole away from changing the world"