For nearly a week since the release of the news that ASIC would launch legal action against CER directors, CER has been in a downward trend.
Personally, I am not surprise by this downward trend which is bound to happen after a good run. What surprise me is the magnitude of this trend since the fundamentals remain the same.
If I follow my head which tells me that the fundamentals now compared to when the price was at 22c remain the same, then 17.5c is a good accumulation price and I should buy more (which I did today and perhaps more tomorrow).
However, if I follow my heart, there is a nagging fear that the 17c resistance will be broken tomorrow and CER will be in free fall down to 14c.
What's the chance of this happening? Thought?
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- will 17c resistance be tested tomorrow
will 17c resistance be tested tomorrow
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