Ckk today has done a dragonfly formation on rising volume.This is quite a strong bullish reversal sign and may herald another run up.
From a fractal point of view, a similar bar formed on 20/11/2009 after completing a rally - consolidation form [ 2/11/2009 - 20/11/2009 ] almost identical to the current rally - consolidation form [ beginning 3/3/2010 ].
If CKK follows a similar fractal pattern then I would expect that the current formation that has developed over the past week to be a potential shoulder formation which may be preceding a developing sharp rally typical of a head formation once again similar to that which occurred between 20/11/2009 and 26/11/2009.
Not quite sure how to publish an image here, so for any keen chartists it may be worth to check a chart for CKK to validate the observation that I have posted here
CKK Price at posting:
27.0¢ Sentiment: ST Buy Disclosure: Held
