CPG still trying to touch Kijun Sen line, facing strong resistance

Weekly chart shows that CPG still has the potential to touch 1.5x as Kijun Sen line still moving horizontally. The current resistance at 23.6% Fibonacci Retracement level has been very hard to break though. So far we still have the bullish sentiment on our candlestick and based on Ichimoku system, the weak bullish signal from Tenkan Sen / Kijun Sen cross is still there.

RSI or Relative Strength Index is still at oversold level although it is still pointing down.

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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