Sinotel Sandwiched Between the Gaps

A proposed shares placement at 57.55 cents created a gap down to the lavender support zone. This support zone will be heavily defended by the Big Boys to prevent price erosion below the placement offer.

Therefore, a move towards the light blue previous support turned resistance zone seems more likely then a downward drop to cover the lower gap at the dark green support zone.

Price will most probably trade within the green channel towards the light blue resistance zone. However, if the lavender zone support fails the next support is the blue channel lower boundary followed by the dark green support zone.