Hi Ken. Yes, the next point of resistance on the c
Post# of 5570
Hi Ken. Yes, the next point of resistance on the chart is .02. But I should caution anyone thinking that there will be a huge amount of resistance there. If you link back to a daily chart, you'll see a very short period of time where the stock traded near .02. The day it hit .02, I believe only 20k actually hit .02. The two previous days hit .019 and closed at .019. Most of the volume on those three days saw very little of it at .019 and .02. The share price might have continued higher had it not been for the destructive action and filing of the previous management team in raising the OS by 600 mil to 1.35 billion the night of Dec 17. The next morning witnessed the stock collapsing from the open of .019 to an intraday low of .0075.
It's my opinion only, but this next move to .02 shouldn't offer much in the way of trouble getting through it. Keep in mind, we are all waiting for an OS reduction of approx 400 mil. That would effectively take the OS under 1 billion. That, coupled with the newly appointed, world class management team headed by Victor Siegel, Rick Garson as Chairman of the Board, the Messi event on July 6, and hopefully a lot of quality projects and events coming soon, would make for a move easily through .02 and higher. Again, all my opinion, but thanks for asking. It's a question that I'm sure many are probably thinking about since we closed at .016 on Friday.