tapkcir
Long

CRMD Bull

AMEX:CRMD   CORMEDIX INC
CRMD             saw a massive gain yesterday.

Over the course of the day we can see that the MACD historam tightens with the stock price into a triangle - suggesting a probably trend continuation (though reversal is also possible).

A major break through this formation on substantial volume will indicate whether CRMD             could potentially see a second big day, or if it will give up some of its recent gains.

Odds are in favor of other investors piling on, and the formation is more likely a continuation one than a reversal. However, the risk reward doesn't support jumping into a position prior to confirmation of its next trend.

Major historical support/resistance lines are in purple - notice the channel between two of them in which CRMD             is currently stuck ping-ponging back and forth. Again - the direction and strength of the break will be critical.
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