Sorry to turn this thread into full on charts, but I will do my best to explain from a fully T/A position what I interpret is happening and why.
When CER first busted out 18 months ago, it took 3 goes to clear .12c.(classic tripple header).It then has taken 11 months and 3 goes to finally break away from the 38.2 fibbinaci level of .19c (tripple header) through april -may this year it had 3 good goes at rising above .25 and on it's 3rd and final attempt it was either going to clear it well or crash back to earth.
To keep the chartists happy it pulled back to around .15c where it found a happy place gaining strength and momentum before its next run started in early July . We have had one hit at .25, somewhere in the next week or 2 I believe we may have another go at it , but I doubt we will cross above it. ( I really hope I am wrong)
Then we will have another shot after that ( our Tripple head) this time we will either go onwards and well and truley upwards, to be pulled up at .30. Or we will find a home at .22 for a few months before having another throw at the stumps.
I don't know why it happens like this, it just does, I accept this , and try not to question why.
So that is my outlook on CER, not an eachway bet, just what I read in the charts.
DYOR, Even if this sounds remotely like advice, it definitely wasn't even close.
CER Price at posting:
24.0¢ Sentiment: LT Buy Disclosure: Held
