As I'm sure you've discenered oldtimer, I'm one who does like TA and am very appreciative of some discussion with varying perspectives....there are so many differing indications out there, and everyone has their preferred metrics.  With that being said there are some that are very broadly followed and determining levels of support and resistance definitely fall into the category.

The thing about support and resistance levels, these levels are frequently used for traders, or for those playing options....selling on the rips and buying on the dips.  With Resverlogix though we know there have been protracted period of low volumes, especially on the dips....and that likely makes trading in and out difficult, especially on the dips I believe.  We don't have any option trading here, so no puts and calls to buy.....

With Resverlogix I think a holistic approach is needed....using TA against a backdrop of the fundamental picture.  One thing I belive 100% is that charts and TA should always be viewed against the backdrop of News/Hype/Promo.  If a chart for any stock looks very bullish, but its against the backdrop of a company putting out 2/3/4 PRs a week, with all kinds of promoters hypeing and social media going nuts....then imo that's the time to look for the exit doors.

If Resverlogix eventually takes off huge, with multiple PRs coming out each week....with mentions by outfits like: The Cantech Letter, Prosperity Stock Report, Ellis Martin...and countless other possibilities.  If in tandem with the lots of PRs and Promotion if sites like Stocktwits, Twitter, Reddit and Facebook become inundated with user IDs exhorting people to 'buy now or regret it later....'  

Frankly I would not be upset if that were to happen....if it does happen I just hope its with RVX trading at $20, $30, $40+ per share.  I actually don't think that will ever happen here....but I never say never.  

Cheers....