The CNJ 6.5 daily chart produced another strong candle which...

The CNJ 6.5 daily chart produced another strong candle which bounced above the 8 weighted moving average and closed above the 3 wma It is the third consecutive candle to close above the swing high which formed on 25 May. The next daily chart price target is around 9.2 cents and there is very little resistance on the left hand side of the chart until the supply level just above 9 cents.

The CNJ 6.5 five min chart with bollinger bands set at a standard deviation of 3 showed price heading higher at a 45 degree angle following a small consolidation in the morning. Price ranged from 5.3 cents to 6.6 cents. The main index was down 67.6 points but CNJ managed $9.38million worth of shares traded with a healthy 155.4 million shares changing hands.