Just my opinion, but I'm not sure ci1 is large enough by measure of volume and price to really respect many technical factors and will more likely be driven mainly by news catalysts and supply/demand inbalances overtime and fundermental value analysis. I was surprised to see how closely it has respected just the basic 200 50 20 simple moving averages though and I think its hard to deny that some traders are relying on the 200 sma as a support at the moment. Just as an additional thought not really to sure about this one but I do think technicals can be a bit of a self fullfulling thing and the more traders following certain technicals makes them more prominent and profitable over time, however I think on small irrelevant stocks with low volume they may not have a chance to trade on some of the more indepth and complicated technicals as not enough sophisticated technical traders are watching and trading the stock and maybe in these cases the stock trades on more basic and easy to follow technicals and they become the way to trade, I dont know though just a thought that came to mind. The outlook for me at the moment is hoping we can atleast rise back above 20 cents and find support at 20. I hope a broader market contagion isnt currently brewing with some of the recent events. Although financially speaking ci1 seems solid, in a state of panic that will all the forgotten briefly. I'm going to focus and building a cash position and keep ci1 in the bottom draw waiting for the next catalyst.
CI1 Price at posting:
18.0¢ Sentiment: None Disclosure: Held
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