Text me if you have any questions/comments for me.
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CTM
- Previous analysis was done on 9 Sep - Suggested waiting for successful rebound before plotting entry
- Since then, the stock has gapped up to test a resistance at $1.10 levels, retraced back to the mid-term support and re-tested the overhead resistance
- In 2 subsequent FB livestreams, I have recommended plotting entries using breakout strategies instead of rebound strategies
- Friday’s price action is a false breakout accompanied with above average volume
- Potentially, the stock could retrace again to a tested support before rebounding back to the $1.10 resistance levels
- If this happens, it will form a cup and handle chart pattern which sometimes leads to a strong breakout
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout before plotting entry
-----
CTM
- Previous analysis was done on 9 Sep - Suggested waiting for successful rebound before plotting entry
- Since then, the stock has gapped up to test a resistance at $1.10 levels, retraced back to the mid-term support and re-tested the overhead resistance
- In 2 subsequent FB livestreams, I have recommended plotting entries using breakout strategies instead of rebound strategies
- Friday’s price action is a false breakout accompanied with above average volume
- Potentially, the stock could retrace again to a tested support before rebounding back to the $1.10 resistance levels
- If this happens, it will form a cup and handle chart pattern which sometimes leads to a strong breakout
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout before plotting entry