Weekly chart of CPG showing possible upward trend

CPG‘s weekly chart has maintained its weak bullish signal via Tenkan Sen / Kijun Sen Cross which we saw last November 2013 and while weeks have past we can see Kijun Sen moving horizontally at around 1.54 which we can also consider our resistance. It seems that the action on the last trading week of December will be the higher low. If that will be the case then CPG might be creating an upward channel.

Another Ichimoku element that is poised to give some green light is the Chikou Span, if price for this week will close at 1.4 level then this will provide us another bullish signal.

Some are still waiting for the dividend ex-date which is still to be announce. Maybe there will be some plays soon.

RSI or Relative Strength Index is still very healthy and is pointing upwards which is a good sign.

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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