Might need to keep on topic re CVI...I will however add an adendum to the end of this post to address the kind offers of advice from several.
CVi is right on the verge of a significant break here, as such the players will either use that to push through it for a trade, or defend it to generate a "failure" to break it...which might facilitate one last accumulation phase for them.
However, the players will usually push the stock where they stand the best chance of a decent return, which may result in only one direction for CVI.
We potentially have two scenario's from the players here...the upwards or downwards play. (Players do not like to see sideways trading)
Downwards play...
On the downside, the 23-24c line is very tolerant now, suggesting this is a likely lower limit for any downwards push. Whilst the charts suggest lower levels are possible, with the likely news flow in the near term, pushing for such levels may well be like trying to push back the tide.
Players prefer to follow the path of least resistance.
Further, the volumes will likely drop right off even if they do get it down lower, rendering any sell-down and reload a low-probability play. So, with just 3 or so cents potentially available on a downwards thrust and a relatively low chance of securing a re-entry at these levels anyway, the downwards play is not likely in my view.
Upwards play...
As I siad, we are right on the edge of an upwards break, with the breaching of 27c signalling a trigger event and a close at 27.5c or higher providing initial confirmation. Also, just one more day of reasonable volume with a VWAP trading over 27.5c would be the final confirmation for most conservatives.
This scenario is far more attractive to the players, namely because it will result in higher volume turnover, which is always attractive to them as it facilitates their larger lines. On such a break we get targets ranging from 32...36...39...44...and 58c.
A break above 27.5c will likely gain a life of it's own purely on a technical basis...when coupled with the string of near-term events of a fundamental nature, one does not need to be Einstein to work out which of the two scenarios might be easier to "facilitate".
Anyway players asside, it does appear clear the stock has done enough at lower levels to constitute the formation of a decent floor...combined with an apparent end to a corporate need for lower prices, it would seem logical to see an upwards push.
Cheers!
--
Re bad backs...
My back problems stem from an accident I had when I was 19 and working as a sawyer in a timber mill whilst studying.
A pack of timber landed on me, ripping all my lower back muscles.
They have healed, mostly, but obviously the scar tissue is not as flexible as undamaged muscle, which basically means I stiffen up like a board when they get a work-out.
Further adding to the problem, I had a small mishap about a month ago coming down off a ladder, twisting strangely with timber in one hand and nail gun in the other...still not over that "rip" in the lower back.
I do all the exercises, "bend zee knees", sit up straight, use the deep heat, and take anti-inflammatories, etc...but the pain is still there.
The more I work it, the better it gets...but when you sit on your arrrse most of the time, then have these bursts of physical activity using muscles rarely used, there is really not much I can do.
Probably just two days of tiling to go now...then just a little area on the hob when the spa goes in.
Problem is...the strip-flooring, which is being installed as a floating floor on chipboard flooring, needs to be done next...even worse than tiling!
lol
Cheers!
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
