Testing Trend Line Support

Daily Continuous

The Holiday weakness declines expanded the 5+% decline, taking prices down, getting near the trend line support (March and April lows in the chart above) that has been mentioned here for a while. The key is a break below that holds on a daily closing basis. A test and rally from will provide additional gains but a break down on a closing basis will likely create a test of the $8.00 area and just below.

Major Support:$8.283-$8.24, $8.12
Minor Support: $8.065,
$7.69,$7.36,
Major Resistance:$8.916, $8.996, $9.60

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