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Manikato

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20/08/21

11:07

Post #: 55438886
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Originally posted by Ggodfr1 ↑

I am new to charting but I believe that it will benefit me greatly in the future, here is my own prospective on the charts.
Weekly long term trend change, we have from the all time low to the most recent high fib retracement 50% coming in at around 0.039c which sits around most recent resistance levels and near old support levels from 2017/2018. In addition we have an inverted head and shoulders which again is a very bullish sign. IMO the TA looks very good for the long term trend and hopefully this Elliott 5 wave theory plays out with big gains to be made. The fundamentals do have a big part to play in CNJ journey and there might be a short term pull back bur overall the future looks prosperous

For the short term potential pull back I would expect it to land around the 50% 0.049c as this sits on old highs and also the long term fib in the above chart 0.382 level lands at the same price, which gives us a price cluster. We have also already experienced some support come in at the 0.050c price region.

All IMO, GLTAH

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Nice chart.

Only comment I would make is that gap on the 26 July could be a breakaway which may never get filled.

It does happen occasionally, sometimes with explorers on the verge of major discoveries....just my thoughts

Keep at it as charts are the best tool for trading.

Last edited by Manikato: 20/08/21

CNJ Price at posting: 7.0¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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