Weak Bullish signal on CPG

CPG have shown some weak bullish signal via Kijun Sen Cross today but does it have enough power to continue moving past the Kumo or will retrace after hitting the slope? Notice that we have a slope that acted as a strong resistance for CPG to move upward. This slope is also near the Senkou Span A of our Kumo that could help resist the price. For those who were holding CPG from the bottom may continue to hold and assess the bullishness of this stock once it hit the slope. If we will have a bearish candlestick on that line, there is a greater tendency that this stock will go down again to hit the support, else it will continue to move up and touch the flat Kumo.

RSI or Relative Strength Index is still pointing up at 61

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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