THe last few times it tested 55c resistance the MACD cross was weak or nonexistent, and even more importantly the ADX showed little strength and was outside the channels.
This time MACD crossing is very distinct, ADX is pushing into strong (+25) range and its within the channels. We also have several ascending channel breakout at close of trade (not intra day) and pushed right past the bollingers, which didn't happen the last two times. Also today's volume was twice that of the highest reached in last 2 months, together with ADX/DMI looks much stronger trend.
So all in all looks much more bullish than the last time we visited 55c. I wish I studied charts more when I bought in (mid 50s doh). If anyone is a TA expert and can correct or add (in particular if I'm missing a bearish pattern or signal) then please please please educate me
CNX Price at posting:
51.7¢ Sentiment: Hold Disclosure: Held
