Courage Marine looks like finding a good support at between $0.18 to $0.185. This is the 50% Fibonacci Retracement Level and this has been proven very reliable for the past one year after tested 5 times. The company also started to turn around to make profit last quarter but the share price does not move much. The company has stong balance sheet with Current Ratio at about 10 and generating positive cash flow from its operation. Technically this level (between $0.18 to $0.185) is a safe entry level but not for short term trade.

Courage Marine is still in the consolidation phase due to lack of trading volume. The stock price is currently trading within a tight support ($0.185) and resistance ($0.19 which is a 200D MA) range.

Things to watch out:

• The moving direction of 20D MA will determine whether the trend is moving down or moving up.
• The presence of the trading volume if the stock price breaks the support or resistance.
• Without the above two indication, Courage Marine probably will move sideway for a while.