Bullish Confirmation Indications
Recent price action has confirmed a reversal by pumping upwards and forming a higher high.
1. Price has formed a higher high
2. It has formed a Golden Cross
3. Recent session's price action, ( Bearish Candle) indicates that the stock price is facing a hard time continuing up
4. The price is at 50% Fib Retracement level of $6.60 and which is also a Resistance Zone
5. MACD is suggesting that Bullish Momentum is exhausting
6. I will be confident to buy in the $5.10 - $6.10 region (Buy Zone).
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Recent price action has confirmed a reversal by pumping upwards and forming a higher high.
1. Price has formed a higher high
2. It has formed a Golden Cross
3. Recent session's price action, ( Bearish Candle) indicates that the stock price is facing a hard time continuing up
4. The price is at 50% Fib Retracement level of $6.60 and which is also a Resistance Zone
5. MACD is suggesting that Bullish Momentum is exhausting
6. I will be confident to buy in the $5.10 - $6.10 region (Buy Zone).
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Comment:
CGF has continued higher but I still think that Buying here is risky and I will wait for price to pull back lower for a taking a Buy Position.