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!

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