CPG may correct and seek support at Kijun Sen

CPG broke from the support line and may continue to move closer where Kijun Sen line is. This line plus the flat Senkou Span may attract the price but looking at the elements of Ichimoku we could say that this is a healthy correction. Chikou Span is moving above the price, Tenkan Sen line is moving above the Kijun Sen line. These things tells us that the bullishness of this stock is still there.

Candlestick formation shows no bullish pattern yet so we need to monitor and add some shares when it appears. Of course always have your plan ready. If this will turn sour the act accordingly. Suppport level is at 1.48 and 1.43.

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.

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