citec , page-5

strong breakout pattern forming: see chart please see my blog for a chart attached

CFE has just done a classic break out, pull back and consolidation pattern. This type of chart behaviour normally predicates a strong upward move which usually exceeds more than 100% of the last range up.

You will notice the low on 30 November at 28.5 cents, which then ran up to the high at 40, breaking crucial resistance, as indicated by the red trend line.

The stock has now done a classic pull back (sitting right back on the red trend line), and is showing signs of upward strength. Buy opportunity was on the last pull back in the 33 to 34 cents area.

For those that are Gann inclined, the recent low on 12 Jan is 180 degrees off the July 11 high at 49cents, giving further support that we have seen a new low in place.

I would expect CFE to run hard up to the 40 cent level (minimum) before the end of February, where the next Gann time indicates a turning point.

The stock is a takeover target now. The Chinese will be all over this.