No, the close down today doesn't matter, as the volume was light...

No, the close down today doesn't matter, as the volume was light and the close was at the support point of 14c. A close below 14c will indicate a retrace like the one between 20 feb and 20 March, dipping to somewhere between 11c and 12.5c in half cent increments over the period of a month.

I still think that it won't get through the 14c support and that instead we will see smaller and smaller volumes at the 14-14.5c until it springs back up again or grinds through to the 18c level. My assessment is mainly based on those up volume days I spoke about earlier (21, 26 and 29 March), as these will drive bargain hunting, and indicate that there is something fairly imminent (ie: due before the stock would normally retrace). The seller side is driven by small holders who bought in the Christmas period who are very nervous about the stock after getting caught with a high purchase price. Traders and accumulators are slowly getting all of these holders to give up their stock. I am basing this judgement on the nature of the buy orders at 14 and 14.5c (100,000 and 50,000 lots) and the big sell order at the top of 15c that has been partially eaten away.

The Director buying sets a floor under the stock of 11c and I wouldn't lose confidence in it unless it broke these levels. As I said in one of my earlier posts, for heads holders (holders of the actual share rather than option), they have the luxury of being able to leverage up into the options should the share retrace. Holders of the oppies like myself just have to be patient.

I'm not tempted to trade even though there might be a retrace as if an announcement does come out, I will have lost the best bit of the gains and I am comfortable with my risk exposure holding my position whilst ever the share price stays above the Director buy price.