Major trend reversal, maybe not.

NASDAQ:CPSS   Consumer Portfolio Services, Inc
CPSS started a downtrend in April of 2013, it oscillated around a resistance line of 7.23, and then broke lower in March of 2015, during this time time it fell from 12 to 7.50 resistance (based on monthly charts) equaling a loss of 4.50, subtract another 4.5 from 7.50 to get three, it came close to this value back in June of 2016 reaching a low of 3.30. Selling pressure has been declining over these time periods likely due to the improvement of some fundamentals like total revenue and free cash flow, both have been improving since 2013. With a PE of 2.96 this stock might be ready for a recovery to the 7.50 line if it can hold above $3. A potential reversal is being made based on the monthly chart pulling away from the lower Bollinger band (on the monthly chart). If the stock doesn’t trade flat, reversal maybe confirmed by small goal on daily charts , a second confirmation if the 10/12 earnings show additional positive movement.

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