There appear to be endless charting interpretations for CVI, and all positive. Time will tell how it breaks from here.
I am expecting the cup 'handle' to be extended in the days leading up to the Caplin report, with a choppy sideways pattern at around these levels.
Yesterday saw some strengthening of the chart at the sub 20 level, as opportunists gratefully accepted the crumbs that fell as a distracting breeze wafted across the forums. While not a howling gale, the subtle attempts to spread doubt and to undermine sentiment were to be expected following last week's promising report by the company.
All I know is that my cup runneth over with stock and is full of anticipation as the time for a re-rating approaches. I am expecting some FDL profits to be flooding into CVI shortly which must be looming as the next best thing for the hot money brigade.
Suffice to say that I have a patient, thankful and comfortable view of current proceedings.
Cheers Nev
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held