CEL - technical setup v bullish

May as well start a chart thread to keep the drawings separate from the other conversations going on.

The demand continues to come on market at the 26c level, which once cleared will open the door for a run at the previous high of 28c  and then a move into the low 30's in quick succession.

Iam looking for a 6c measured move to play out based on the current setup to see 32c being hit and forming short term resistance with the next leg higher which is about to unfold.

MACD trending positively above the 0 control line, stochastics rolling up and RSI with room to move before any 'over bought' signal. As we have seen the stock can move hard when over bought signals are present with the last time this setup unfolded a run from 12c to 28c played out.



While we are at it, it's worth looking at the medium term setup as this give some perspective to the larger trend at play.

We can see that the 26c price level is significant on the weekly - medium term setup and once cleared we will see the next leg firmly take hold. Stochastics have turned positive once more with the MACD about to also cross back positive. Always a solid sign to see the price action trading above the short term MA as well. In summary a very bullish setup.



In light of the broader risk off that is starting to push through our markets and gold catching a bid once more, i've rolled out of my other short term positions to park further funds here. Iam a sucker for a good story with a very positive technical setup with plenty of near term catalysts to underpin my thesis.