Did CPG hit the bottom?

CPG looks bullish when it move up and break the 61.8% Fibonacci Retracement level which is its immediate support. But so far we don’t have any help from Ichimoku elements which is currently in a bearish position. We are looking for the possibility that CPG will hit 1.50 per share because of the Kijun Sen line that is moving horizontally. A test buy will do but if newly found support will not hold, CPG may drop to 1.35 per share.

RSI or Relative Strength Index is currently at 40 signifying that the stock is not yet overbought.

Caveat!

The following two tabs change content below.

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.

Leave a Reply

}