Sorry I am no chart expert either but like you I keep an eye on the charts & look for some basic support/resistance + various SMA crossing.
For what it's worth, which is not much, here is what I see from the chart below.
Most of the SMA's have crossed except the 150 is still waiting for the 50 to cross (looks like that will happen by the end of this week or early next week) & the 200 day is still waiting for the 30, 50 & 150 to cross so waiting for that 'golden cross'.
The SMA's are all 'positive' i.e. trending up.
The above indicates to me that it is an early stage positive trend, awaiting the 'golden cross' to confirm a longer term trend.
It broke out of the lower low / lower high down channel approx. mid Jan. It has now put in 1x high high & 1x higher low, again a sign of an early stage uptrend. Awaiting a second higher high, which would need to be above 43c
It has moved above 3x of the support/resistance lines I had drawn & recently back tested one of them to put in a higher low.
So IMO it is a very positive picture/chart from a few of my simple indicators ..... BUT charting seems to be more black magic in small cap stocks on low vol so really it could do anything HOWEVER ... IMO the fundamentals are also supporting a continued uptrend with recent news of the first graphene filter sale. There are several other possible big price movers cooking away. These guys have amazing tech & IMO I am getting a lot of great IP for a relatively low MC
I my book it is a buy ATM. Just awaiting some good fundamental news for a decent re-rate. Hopefully soon !!
Personally I topped up a while back when it was under 30c BUT I initially moved to early & purchased when it started moving down under $1 from the post spin-off highs. I need mid 50's to break even & have enough of a % in my portfolio ATM so I am just sitting tight & waiting for that/those magic announcement/s.
Good luck.
CNQ Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
