kat, maybe there has been a misunderstanding.price targets are...

kat, maybe there has been a misunderstanding.

price targets are basically indications of where you can expect profit taking to occur on any upward moves.

a pattern can be resolved in one session upon the release of news, likewise it can take weeks to resolve on technical merits alone.

i think even you would have to admit that there was a clear (allbeit shallow) uptrend in the chart leading up to the recent spike we have had. my call was nothing more than suggesting that it indicated news was coming. and it did.

now a new higher support level has formed, which in the absence of fundamental growth, indicates more news is expected by shareholders before they sell. and we know it is, we were told that a JV should be finalized by end of Q.
and that is big news.

so when the next news is released, you can expect another new high. WHY? because the chart has opened up the possibility. those who needed to take profits in the high 2s have done so. the next lot of profit takers will not be moving in until the high 3s. but if the news is good enough, most will be happy to wait even higher with their sell orders, in fact they may be the buyers at 5c waiting to recoup their losses, where all the new holders are happy to just see how much higher it will go in its new uptrend.

all of this is readable in a chart.