Hi Saragian Weinstein would plot the 50 and 200 SMA om his chart ( he used to use the 150) . I used tradingview daily chart it distinctly shows topping out in stage 3 which is evidenced by the shareprice falling below the 50sma then trying to rally to get above that moving average again but failing and consequently falling below the 50sma and staying there from then on, and it is still there now, that would definitely be regarded as stage 4.
The 50sma is still pointing down, so plenty could argue that it is still in stage 4, but in my opinion it is well in advance of stage 3 and has started to come out of stage 4.
I think it has entered a period of basing probably from the start of Christmas, as it shows on tradingview daily chart . I would also argue it has formed a reasonable cup and is the process of forming a handle, which may indicate a breakout would be imminent after that chart pattern had formed. However if the 50sma had levelled out more, it would give me greater confidence.
its just my opinion though, so don't get too upset, time will tell. I think those that are investing now might have to wait a little longer to see a breakout but hopefully the price they have bought in at is not too far off the mark, If i wait till breakout is confirmed to buy in I have no doubt I will probably pay more than the current price, but my entry would just be closer to the stock moving up in price. I am not advocating people buy now or later its up to them to make a decision.
CU6 Price at posting:
$3.79 Sentiment: Hold Disclosure: Not Held
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