Here's a simple chart to show how CEO is doing right now.
Observations ============= 1.Note the convergence of the two trendlines BD and AC. That distinct convergence became the ETA ( estimated time of arrival) of a possible CIT ( change in trend ). As you can see on the chart, the price of CEO attempted to move up ( the last 2 days) upon that date of convergence and has gone above the dotted line in the price chart- indicating a weak attempt on a rebound on the date of the convergence.
2. Each time price goes above this dotted line in the price chart, the stock becomes bullish and vice versa.
3.I have plotted this week's ( 5 days) price for which CEO needs to stay above the black dotted line to stay bullish. You can read the price off the chart axis to find out whether price closed above the black dotted line to remain bullish for the next 5 days as shown.
4. If price falls corrects further, the line BD is expected to provide support at 0.0276. If price continues to improve, target is upper horizontal line(previous high at 0.053 as a first target).
5. Bottom chart shows we are at an important juncture, awaiting a crossover. This indicator is just a common MACD indicator plotted as dotted lines to illustrate the "kissing" or convergence. If the blue line goes above the red line, the stock will turn bullish and vice versa.
So in summary - this simple chart illustrates that in the short term, the stock is at a crossroad, it has turned slightly and weakly bullish but need to gather more strength to continue to stay bullish.
May the best prices be yours,
dascore
CEO Price at posting:
3.2¢ Sentiment: ST Buy Disclosure: Not Held
