clever accumulation or more money than cents, page-5

Anyone using the Uptrend since early Nov to manage their trade has seen it Broken today.So it is completely possible and plausible that Profit Taking as well as Stops are being activated.

To my eye that was a New Characteristic of those 7 days Late October that had CNX trading under 30 cents.Previously it had only traded Intra Day under 30 but this time it hung round 26/30cents for more than a week.

This Accumulation sub 30 contributed to the price stalling low 40's subsequently.Too much ST Profit in hand to ease Sellers.Price's subsequent fall has Profit Grabbers as well as Stops being "active".

I conclude that CNX has dropped down out of it's previous Trading Range say 50/70 down to 25/45.I still think that 26 MAY NOT hold as Future Support ie low/sub 20 a possibility.IF sub 25 Happens? Well Range MAY get adjusted 20/35ish.
JMV of course.Burnett say may be completely correct in the Ever Upward Scenario : )

cheers