Rogar
I have been doing some work on CTX over the weekend.So far it seems to be holding the double bottom from march this year.I like you, would also love to see the downtrend be broken,although what does worry me slightly is that i can see a descending triangle formation happening.But i would like to note that the chances of this pattern coming to fruition at this point in a downtrend are very slim,But there is a chance it may breakdown,it will be one to keep the eyes on just in case.I also have a EW5 target hit and now expecting it to give me an ABC corrective phase.With both the weekly and daily stochs in the oversold postion,i will take an entry with stops just below thursdays low with a short term target of $12(50dma).Although i should wait for a break of the downtrend before a long trade is triggered,but if we get a false breakout of the downtrend ,for it then to breakdown the risk then becomes larger,so for me its lower risk at this point.
Rogar, great call
gunn
RogarI have been doing some work on CTX over the weekend.So far...
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