Bullish sentiment still intact on CPG

Weekly: Weekly chart of CPG shows a Weak Bullish Signal courtesy of Kijun Sen Cross. This is considered weak because it happened below the Kumo or Cloud. The breakout now gives us a immediate support which is the Kijun Sen. Notice also that price is coming near the resistance zone which is the Kumo. Will it be a strong resistance? I think it will be risky to chase CPG but waiting for its retrace and test buying near support may give a better reward.

Daily: CPG continue to show bullish sentiment on daily chart with all Ichimoku showing green at the moment although RSI is a bit overbought. One year time frame shows that RSI was able to hit 80+ before it retraces.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

One Response to Bullish sentiment still intact on CPG

  1. Alson Oro says:

    Today's High @ 2.00 Bullish
    See you @ 2.80 :)

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