$CBLU ready for the next push higher ?
Clear Blue Technologies trades on the Canadian TSXV exchange under the symbol CBLU
The chart has been consolidating below its Jul 19 2018 IPO price and Volume has been declining since consolidation began , ready for a push to new highs once we break $0.86
Calculating the measured move target from the IPO high at $0.86 neckline , and the $0.09 lowest low, gives us a move of $0.77 cents
Add $0.77 to the $0.86 neckline gives us a target of $1.63
CBLU has 51 Million shares outstanding, current market cap of $30 million Cdn and CEO expects this to grow into a billion dollar business
At $1.63 , it would represent a market cap of $83 Million Cdn, plenty of room to move higher towards that CEO goal.
The chart has been consolidating below its Jul 19 2018 IPO price and Volume has been declining since consolidation began , ready for a push to new highs once we break $0.86
Calculating the measured move target from the IPO high at $0.86 neckline , and the $0.09 lowest low, gives us a move of $0.77 cents
Add $0.77 to the $0.86 neckline gives us a target of $1.63
CBLU has 51 Million shares outstanding, current market cap of $30 million Cdn and CEO expects this to grow into a billion dollar business
At $1.63 , it would represent a market cap of $83 Million Cdn, plenty of room to move higher towards that CEO goal.