Going back to 2011 and beyond , this area $2.80 has been a resistance point. After making a recent top at $3.50 the stock and volume has tapered off. This is a sign of lack of interest/momentum .Both these events are not particularly bullish. I would wait for conformation of the stock breaking $2.80 before beginning any further accumulation.
First off , what is you nickname as your handle is too long. I will address you as zbf in future ok?
I believe you are addressing this question to me and other ta experts. I am one of those that called this correction on the dot and I am looking to reload based on a previous strategy I mentioned. See previous post.
Your question as to what I call the chart is vague? I interpret as the name of the formation which is a term I used called 'overbought'. This term means that in the short term the stock was overextended and a correction was coming. There is a term I invented that was also in play here called the 'seeking alpha' phenomenon. This theory calls for the price to reduce to its pre pump state where the article inflated the stock price.
The beauty of my analysis is that I not only consider TA but use fundamentals as a high octane validator. The fundamentals on zhone are strong and considering where we are headed it is a good thing.