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Yonxi

30 Posts.

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23/04/19

23:46

Post #: 38244254
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Originally posted by Yonxi: ↑

CL1 popped up on my radar from a TA point of view. I don't hold strong opinions about this as I let the price speak for itself, but genuinely curious to hear people's point of view from a technical perspective or critiques. Some observations of possible upside:

1) Possible inverse head and shoulders formation on the daily charts, with neckline now broken.
-Caveat: classical charting principles state left shoulder should have higher vol than right shoulder, which isn't too obvious here

2) Upside target is where potential convergence of
- Resistance point at $1.85-1.88; might hit resistance also at $1.71-1.73
- 200 MA on daily (or 50MA on weekly chart); 200 MA has acted as a good resistance or support historically
- Down trend line dating back to Oct 17

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Disclaimer: Wasn't watching this after my last post, and just checked back. Not here to brag, but to share an observation and follow up.

Price nicely resisted and retraced after touching 200MA and downward trend line. Also nice hit of target by high on 16 Apr, based on head to neckline height.

Could be coincidence overall! Good luck all.

CL1 Price at posting: $1.66 Sentiment: None Disclosure: Not Held
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Disclaimer: Wasn't watching this after my last post, and just...

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