Westhx must be looking at a candlestick chart that has the ema set to 20, 40, 50, 60, 100, 150 to support this theory.
The 20 day ema is around 7, and has broken away from the 40 and 60 very fast. Possibly too fast.
It went past the 150 ema, unfortuately the sp failed to hold above this.
Both the 20 and 100 ema could be tested this is around the 6-7cents. Does not mean its going to happen, but it has the potential.
Regardless, cer is still on an uptrend, and IMO will continue on its uptrend.
My best guess is a retrace to 7, all going well a strong bounce from there.
Long termers have no need to worry.
Its not a perfectly reliable site for charts, but copy and paste this http://markets.businessday.com.au/apps/qt/quote.ac;jsessionid=2505805C9F87D2B326B2FF08F6404D10?code=cer§ion=charts&submit=#topOfChartsAnchor
Then change the ema3 to 20
Cheers.
CER Price at posting:
8.6¢ Sentiment: LT Buy Disclosure: Held
