I've been doing a lot of reading and learning about TA....and took something I already knew a bit about and have expanded on it.

If you've ever watched videos of charts you've probably seen somone drawing lines horizontally for levels of historic support and resistance.  But there's another way to do it. 

I've been swing trading MU which is a chip maker, and if you watch this video the guy doing it draws a line connecting each spike on MU as a resistance gauge.  He then does the same thing with each drop to draw a support line.  It creates a pretty clear picture of a downward channel.

https://youtu.be/_lL4rq88Ihk

I point this out, not to tout Micron....which I have no position in any more (kaching kaching) but to illustrate how the lines of a possible "channel" are drawn

Resverlogix RVX.TO also has a channel, but unlike Micron's...Resverlogix's broader channel is moving higher.  You might remember me mentioning 'the yo-yo on the escalator' with the yo-yo being the day to day price fluctuations while the escalator reprsents the broader trend.

Based on this type of analysis I see our yo-yo now ready to bounce higher....not much string left to unwind, maybe a few pennies.

I know some scoff at TA...and that's fair enough, to each their own.  I happen to believe it has merit, we'll see if buyers start moving in now, whether there's news to  drive it or not....sometimes we move on news and sometimes we don't. 

I like the chance for us to make a move regardless.