Bought this stock on Sep 30th last month at a price of $0.755. Read the entry here. Based on past data analysis, $0.755 is within the zone of "price reversal". In another sense, any price downtrend that sinks to the range between $0.73 - $0.76 would most likely to experience a reverse in trend from down to up (very short term, that is). Indeed, barely a month after the fulfilled buy order, the price reversed into uptrend and went straight up to $0.805 before I dropped a sell order last night.
From the graph chart, $0.8 is a strong resistance that was tested 3 times since June. Notice that for the past 2 times tested, the price reversed from uptrend to downtrend. I won't be surprised if the latest uptrend reverses into downtrend after breaking the $0.8 resistance. Further more, when market sentiments are relatively weak, any rapid uptrend is unsustainable.
Realising this, I quickly left a sell order of $0.8 last night. The sell order was done at $0.805 this morning and I locked in a decent profit.
