For nearly a week since the release of the news that ASIC would launch legal action against CER directors, CER has been in a downward trend.
Personally, I am not surprise by this downward trend which is bound to happen after a good run. What surprise me is the magnitude of this trend since the fundamentals remain the same.
If I follow my head which tells me that the fundamentals now compared to when the price was at 22c remain the same, then 17.5c is a good accumulation price and I should buy more (which I did today and perhaps more tomorrow).
However, if I follow my heart, there is a nagging fear that the 17c resistance will be broken tomorrow and CER will be in free fall down to 14c.
What's the chance of this happening? Thought?
CER Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
