must come down.
I expected that kind of a move - short morning rip the first 30min of trading to make everyone believe a third day of straight up is ahead - followed by continuous selling. The sellers were in control today.
Expected but wished it wouldn´t be that hard of a landing ... but alas - it is a healthy reaction imo.
From a technical perspective we should stay above the mentioned former support/then resistance/now hopefully again support at about CA $1.25 - we even tested the resistance at ~1.5/1.55 but chances were low this would hold.
Nonetheless - if support can form at ~1.25 and the trend change is confimed - the (technical) future looks bright.
Positive News wouldn´t hurt as well!
One must never forget that all the big trading houses make their money with intraday trades - and nothing easier for them than moving low float / low volume stocks into their desired direction (over the course of 1-3 days)
Let´s see what tomorrow brings.
