CPH share price, page-108

Technical analysis report:

Positives:
1. Broke the resistance of a swing point high (26/05/2017 $0.48)
2. Bouncing off support from old swing point high (25/10/2016 $0.39)
3. Bouncing off support from bottom of gap (2/03/2017 $0.385)
4. False break below swing point low (24/05/2017 $0.405) - fast moves come from false breaks
5. Daily MACD has crossed above trigger line

Negatives:
1. Downtrend line has not been broken (looks like it may be broken next week)
2. Light volume on breakout
3. Top Bollinger Band has not been broken
4. Daily RSI(14) has not been broken
5. Daily DI+ has not crossed over DI-

My opinion:
Given the low volume on breakout and the much greater overhead resistance I don't expect this rally to go far. If a huge amount of volume comes in on an "up day" next week then my opinion may change. It is probably good for an aggressive short term trade but you may want to look at market depth on Monday morning before committing. It might get as far as $0.60 so potential reward is 20% (but I am not confident it will get that far). At some point in the future I would expect a retest of support at $0.40.

Daily Bar Chart