strong open, page-86

Good evening all,

Here are some of my thoughts when looking at the chart for CCC:



Volume - still relatively high 100+ million shares changing hands a day. It is worlds away from around the 50 million a few months earlier - reasonably high volume on low and high days suggest plenty of hunger and profit taking on this one.

The sell volume could potentially be overrated given the squaring-off from OZ whilst still holding up strong.

Supporting this is the fact that even in light of strong selling, it is still keeping the bullish ascending triangle in place - shows there is potentially high demand for front-row seats to the much-anticipated Quarterly report.

Fast Stochs - hovering flat around the 80 mark - shows there is plenty of positive sentiment contained in this stock.

Presently there is a bearish crossover on the F Stochs suggesting, prima facie, a strong case for a consolidation. However, I do note the other previous bearish crossovers in the past few trading days - it just keeps on popping its head back up. This is a story of the horse that does not want to rest.

MACD - I know, I know, I've been calling for a bearish crossover since like forever, but the short term moving average just keeps dodging that bullet.

There is a clear signal that the stock is dying to consolidate and take a breather, but investors just seem to keep pumping steroids into it - MACD divergence is getting smaller suggesting imminent consolidation. I have used MACDs for awhile and they are my favorite indicators besides Fibonacci, I personally put weight on this.

RSI - reaching more 'normal' levels, showing good leverage to take a sprint-up upon any good announcements.

Candle - last candle is a very weak Bearish Shooting Star. Even if it was a 'textbook' BSS, BSS are still considered in some TA circles to be a WEAK bearish 'reversal' indicator. So I would call it a weak weak bearish candle - interpret this in what way you will.

Conclusions: TAs may be selling out of this lately, but it looks like the FAs are in force and buying hard.

Indicators point to this horse wanting to take a much-deserved rest, leading to a consolidation around the 23 Fibb (85 cents [IMO 40% chance]) and the 38 Fibb (81 cents [IMO 20% chance]) but the jockeys (the FAs, funds, investors) just keep flogging it to the finish line (Quarterly) suggesting that if we keep up the pace - when the bulls cross the line and take a rest this very well could be a recipe for 'buy on the rumor-sell on the facts'. Caution would be suggested for the slick short-termers amongst us.

Fundamentals have been successful in pushing the head of the bears under water so far, but for how much longer?


Foxtrot