chart, page-18

chart update, comments and input welcome as always.

Short-term daily chart first:

*/ We are currently slowly paralleling long-term trendline resistance southwards.
*/ The 200 day MA provides additional resistance at a 3c offset running in parallel with the trendline.
*/ It will take a very strong move with plenty of volume to overcome this double-barriere.

Now a view of the longer-term weekly chart:

*/ We are currently testing the long-term trendline for the fourth time.
*/ A descending triangle formed between July 2011 and April 2012 resulting in the current bottom of 18cps.
*/ There is a chance for another descending triangle developing at the moment. This would play itself out until early in 2013.
*/ Descending triangles are bearish continuation patterns which tend to break to the downside.
*/ Being fully aware of the fundamentals of this stock, and appreciating the potential I would like to see a decisive break through lon-term trendline and 200DMA on high volume before comitting further funds.