ITM.Trading
Long

MACD cross on strong volume. OBV broken up & ADX weakening

NASDAQ:CCOI   COGENT COMMUNICATIONS HLDGS IN
94 1 2
CCOI             is appropriate as a long trade with a target of $36.49 which is the 0.382 fib retracement level and also at the prevailing downtrend. It may face short term resistance @ 35.54 but anticipate a clearance of this level based on strong volumes and break upwards of the OBV. The MACD cross cements all of the above.
Very nice. The MACD divergence is also presented.
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