G'day,
CST closed today at $1.45. This is just above 38% retracement from $1 to $1.71. It has conclusively IMO tested and held other important technical number $1.42.
When CST broke 1.54 a couple of weeks ago, it broke the line which can be ruled from its very closing peak a couple of years ago to its closing peak on about nov 30 last year.
You guessed it, todays close is right on that line. The last time it broke an important line like this was Nov last year wne it ran to $2. However, that time it fell back through its support within a day or 2. This time it has taken almost 2 week to come back and close on this line.
I predict that by mid next week it should retest 1.71, break through it, run to $2 and then settle back at about 1.84 for a few days.
Volume has died last few days. It has run out of sellers.
I believe a quaterly report is due next week. Well Well!!
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