ASX: Prodigy Gold

Factors
1. Price has experienced a LT downtrend (Starting August 19)
2. Price slowly building a base with a short term resistance at 7c .
3. EMA is converging
4. There is an overhead gap at 8.3c which I would be looking to target, 10.5c if we're feeling more ambitious.

Possible Reasons For Failure
1. No breakout/bullish price action at 7c to initiate trade
2. Prices may continue to downtrend
3. Base may breakdown

Watchlist and keep an eye on, mainly at 7c level.