Update on the chart.
Had a scare since the last chart when the stock hit the zone at $2.50 and fell sharply but it did not exit the channel.
Price bounced off the bottom of the channel and headed back up. I noticed possibly another/different channel possibility(charted with orange lines and no fill color) that could indicate a reversal. It was weak with only two touches prior to this last bounce. Price did breakout the new channel as well and then back tested that channel and bounced up so it was fairly legit.
Notice price ran through the 2.50 zone. My Theory is the last drop to 2.07 shook out all the paper hands so hopefully it is now a strong level of support going forward.
Had a scare since the last chart when the stock hit the zone at $2.50 and fell sharply but it did not exit the channel.
Price bounced off the bottom of the channel and headed back up. I noticed possibly another/different channel possibility(charted with orange lines and no fill color) that could indicate a reversal. It was weak with only two touches prior to this last bounce. Price did breakout the new channel as well and then back tested that channel and bounced up so it was fairly legit.
Notice price ran through the 2.50 zone. My Theory is the last drop to 2.07 shook out all the paper hands so hopefully it is now a strong level of support going forward.