Not sure how to post a chart so someone smarter than me may be able to do it and illustrate what I'm going to try and explain.
If you draw a line from the high at .39cents and join it up to the high at .26cents on the 4th of March, you will notice that this trendline goes through at around .15-.16 cents today. On its own this is not a reason to BUY CVI. However, if you draw a line from the low on the 31st of Jan 2008 at .145cents and join it to the high at .15cents on the 2nd of May and extend it out to today, we are clearly, in my opinion, at a level at which CVI should be making a stand and going higher.
It appears to me that this should be a great support area for CVI and I am happy to hold. Of course if this breaks back below .14cents than that would give me warning signals that CVI is probably heading lower.
CVI Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
