No big headwind so far for CPG. On schedule to hit the mark

CPG hit the 1.54 mark last Friday where the Kijun Sen was waiting. Based on our weekly chart, CPG is current at resistance level at 38.2% Fibonacci Retracement level and Kumo but so far no bearish pattern can be seen from the candlesticks. This means we might see CPG to continue moving up the ladder. The flat top Kumo may also pull the price to go near the 1.76 mark. From there, lets see what our chart have to say.

RSI or Relative Strength Index is currently at 56.2 which is below overbought level.

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

}