I called it and famed TA specialists were silent on the issue.
What was it I said, something about 38% retracement. Then after a 38% retracement sp finds support as you quite correctly noted. Thereafter my next call suggests north of $2, something like $2.20.
I don't know squat about TA, yet those most famous won't have a stab.
I think the sp will consolidate under $2.50 but above $2.00.
Waiting for next chunk of serious news and will have to be something about seriously decent revenue. That will get it to $3.00.
Thereafter lets see if that kind of sp action with revenue behind it doesn't do something decent in HK. It will represent something like a doubling when it gets to their market, I am guessing over 4 months, then see what the HK boys do about it..
I just broke the golden rule: predict either price or time, but mot both.
So lets see how a rank amateur fares against the brains trust.
Anybody short? I think its a tight register with shorts needing to get out thats helping things along, hence why above $2.00 but not a rocket ship just yet.
CDU Price at posting:
$1.66 Sentiment: Hold Disclosure: Held