I've never followed technical indicators very closely, and don't admit to being an expert.
From what I do know, I don't trust using technical indicators in general when following penny stocks. I'm more of a fundamentals man myself.

One thing I can say about indicators though is that I like the lack of volume over the past several days. This is a good sign that the volume has dried up to the point that there aren't enough shares floating around to make it worthwhile to try to manipulate. Another contributing fact may be that the day traders and shorts aren't comfortable giving up shares for fear of a news release and announcement that will get them caught with their pants down. In any case, I think it's a good thing.