Especially when the longer-term trend is higher. Tomorrow if we break through $2.22 for that reason it may well become the new ground floor. That's also why it's a good area to buy for new investors. Look for a nice volume day tomorrow IMO
Trend is at a minimum to fill that $2.42 gap. But really, I think there is a lot more at play now and we can throw the "technicals" approach out the window. I thing we are in steady accumulation with a potentially explosive breakout as a Christmas gift - a gift that will keep on giving well into 2014 and beyond.