Ok, were back I hope. In the 2nd chart (black one) . Working from the top down , we see the Bollinger bands have been closed tight since mid July , the SP has sat in a very close trading range and this indicates a neglected stock that is in an accumulation phase. In early November you can see the bands starting to open , and CER following the top band. In may when the bands opened, CER followed the bottom band most of the way down. This stock really follows the bands to the letter, you can see it when it dropped in May it sat below the middle band, when its rising now its sitting above the middle band and even flirting with the top band. Just before the run the Simple Stockastic was around 5-10 within a few days it was punching a solid 100, meaning it was being pushed or pumped, you work it out.
The last part of the chart shows that accumulation started overtaking distribution at the start of October, some people use this as their sole buying signal, and if they had followed foem here they would have been well rewarded.We went from 15.5c at the turn to 25c today , thats 10c in under 2 months.
My outlook , is that we have to get past todays .25c, it is the 50% Fib, if we can do that with conviction then our next stop is .30c and 2 things against that , its a 61.8% Fib and a psychalogical handbrake.
DYOR, If you think what I wrote above sounds like advice, your kidding yourself.
CER Price at posting:
25.0¢ Sentiment: ST Buy Disclosure: Held
