There appears to be a double-bottom reversal forming. The...

There appears to be a double-bottom reversal forming. The downward trend (from $1.26 in Feb-17) and resistance lines converge at around $0.99 or $1.00. If we break through $1, then we break through both the downward trend and the resistance lines. Volume will be critical to confirming this but it will, IMO, provide relief to SH and provide traders with a solid opportunity for a decent trade back to $1.20+.

The flip-side to this of course is that we're seeing lower lows and lower highs since Dec-16 which is cause for concern, so I'm trying to be realistic about the risks on this one.

Fundamentals will be the overidding factor so should we get positive news from Spain, $2 will be the low end of the equation.

Also, we have $77m in the bank (as at Dec-16) so that's cash backing of 25c per share. Not to shabby.