Friday's trading created an inverted hammer, which is very often a reversal signal at the bottom of a downswing. Previous 2 days show just under .06 cent VWAP's occurred, which shows where the accumulation/distribution definately occurred despite end of day manipulations. Despite the blow off to .10 cents a few days back, .069 was a defined closing level having 2 consecutive closes at that price on large volume. The following 2 VWAP's were only 14.5% less than that defined .069 cent level which is very strong considering the overall rise last week. There seems to be a lot more strength in the chart than what is indicated at first glance imo. Watching with interest.
CNX Price at posting:
5.1¢ Sentiment: None Disclosure: Not Held
