Technical Analysis on AKK, page-2

Sure..........my observations are:

Over the last 5 days AKK as can be seen from the charts below is going sideways.

The Bollinger bands indicate that AKK is becoming increasingly oversold - the relative strength index concurs with this.  That means AKK will naturally sit in the 0.0065 to 0.007 area whilst there are no AKK announcements or crazy macro oil changes.  

The MACD indicates AKK is slightly hitting the negative but it is not of concern to me because it is more a result of the lack of liquidity/ sales volume which can move the price element within the indicator. For example, although you can see a bit of blue slightly in the negative when considering this along side the fact that buy vs sell volumes are holding up and not skewing to the sell side in the table. Therefore, I am not seeing a down trend in the making. This is also bolstered by the fact that there are 27m buyers willing to hit AKK at 0.6c so its not going lower than that any time soon. In fact - I would say that AKK is just having a sideways movement until some interesting news comes out or some good macro oil event occur. The 0.6c price is more a 0.0065 - 0.007 in actuality when you place the chart next to the slow stochastic one can see it is currently in the oversold area and it is about to follow its natural movement back upwards within the range. Course of sales data generally concurs with this position when viewing past 5 days of data.

Stating all that -  AKK appears to be in a bit of a holding pattern until the next bit of news comes out over the next two weeks. 10mil @ 0.007c is currently sitting on the sell side and is not very much (only $60000) so that will be line wiped once news comes out and then it will be 0.008c and beyond. You will also then likely see a lot of sellers moving their sells back higher and the price will then naturally be chased upward.

Big things that will improve the SP in the short term:

1) AKK's well news announcement - A likely good news story which will likely involve more than one announcement. Meaning it could be the gift that keeps giving.
2) Macro oil events - Could go either way but currently oil is up and hopefully it stays that way. It is all in OPEC's hands as they have an informal meeting in September (only 4 weeks way). Overall, If oil futures (both crude and WTI) hold and slightly build that will help AKK's SP a lot!
3) Good technical's that hold up and good investor behavior on the sell side can greatly assist a SP's strong trend upwards. Don't get bluffed out and sell for 0.6c - there are 27 million unit buys sitting there for a reason (they want in).

If we achieve all three of these elements the stronger the trend will be.