Thank you for posting this Excitable, prevents me from having to draw up 2 charts as this is a possible scenario I too was looking at on the daily chart.
On the weekly, things look a lot more interesting:
1. This constant deliberate sell down has formed a bullish divergence - see attached image. This is when the price and the RSI inversely correlate.
2. This point also happens to inflect with 39c breakout retest, as well as the lower high uptrend line.
3. Let's also not forget that the CR price was at 37c, so it would be in the best interest of the company and institutions to keep it above their primary entry price.
Simplified: 3 Scenarios
1. Backtest of 39c complete --> bullish divergence plays out and up we go. Confirmation would see a hard rejection and bounce over the next few days. (Already good to see a close at 42c)
2. 39c breaks down --> this would lead to a test of the uptrend line at 35c.
3. As Excitable posted, 35c breaks --> this would lead to a gap close at 33c. (Most likely a fast wick down to close the gap but retain the 35c uptrend line)
Hope for scenario 1, don't be scared by scenario 2, prepare for scenario 3.
All the best everyone, please try not to let these prices effect your daily life - we are riding a wave far bigger than we can imagine. Pun intended.
L
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