For anyone interest: <WARNING! THIS IS DRY MATERIAL!>
In response to your post <<I did an intense technical analysis as I watched it fall to .25 today... don't worry, Jonathan, there seems to be a lot of support for your stock at .09>>.
An excerpt from an article by Michael Mermer, president of TSCI, developer of the ETS system:
High Five Trading
"Pivot points are generated on the close of the day for the next day's trading session for which they will act as natural support and resistance levels. Because they are well-known and used by most floor traders and generally considered the best way of forecasting tomorrow's highs and lows, they also are important for you to have in you daily market toolkit. . .In addition, they also will help you monitor and isolate big trades as they are occurring because on big days where there are nice breakouts, the market usually also breaks through the extreme resistance or the extreme support level. . .The extreme levels only occasionally are reached and usually only are penetrated during big market breakouts. "
Using his analysis, the following figures are calculated using a fast moving average(non-weighted) with 5 bars:
Pivot: .282
Extreme Resistance: .352
Pivot High: .324
Pivot Low: .254
Extreme Support: .212
To say that there is support at ".09" is wrong IMO, although others may differ, I'm wondering what method was used to calculate such a low level. In addition, TA on this may be useless, but at the very least, interesting. Jin. ;-)
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