Long CNSP to $4.12 above 3.50
CNSP has reentered a trading range if you look left.
Symmetrical triangle formation, in confluence with the 786 fib, and monthly resistance levels.
100% measured move on the possible breakout would put us near $4.20, and just under a historical closing range at $4.32
Possible targets above that would be the 1.618 fib at 4.66, or 5.27. All time highs would be 5.71
However, the RSI looks over extended on the 4HR and the macd implies buyers are exhausted
on the breakdown, i would look for support at the 786 fib at 3.35 or the 618 at 3.08
Beyond that weekly support would be 2.85 and not unrealistic that we would get a retest of support if we break to the downside.
Concluence with the 786 fib and the parallel trading channel in red, would imply we could find support at what used to be our monthly resistance.
If we fall out of that trading range, i would look for entry at 2.85 or 2.70
CNSP has reentered a trading range if you look left.
Symmetrical triangle formation, in confluence with the 786 fib, and monthly resistance levels.
100% measured move on the possible breakout would put us near $4.20, and just under a historical closing range at $4.32
Possible targets above that would be the 1.618 fib at 4.66, or 5.27. All time highs would be 5.71
However, the RSI looks over extended on the 4HR and the macd implies buyers are exhausted
on the breakdown, i would look for support at the 786 fib at 3.35 or the 618 at 3.08
Beyond that weekly support would be 2.85 and not unrealistic that we would get a retest of support if we break to the downside.
Concluence with the 786 fib and the parallel trading channel in red, would imply we could find support at what used to be our monthly resistance.
If we fall out of that trading range, i would look for entry at 2.85 or 2.70