CRSP has been consolidating in what is potentially an inverted H&S pattern since hititng inot low on 12 May. Despite the overall market being extremely weak this week, CRSP dipped and quickly recovered forming a potentially bullish candle for this week.
If CRSP can have a weekly close above 68 then there could be grounds for more optimism. However, a weekly close above 74 (a longer term resistence and also the 200 days moving average) could up it's odds of sustaining a longer term uptrend.
We aren't at these levels yet so I'm just keeping a watch now.
p/s with overall US market being rather bearish right now, it is best to keep positions small and be ready to cut quickly if wrong.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
If CRSP can have a weekly close above 68 then there could be grounds for more optimism. However, a weekly close above 74 (a longer term resistence and also the 200 days moving average) could up it's odds of sustaining a longer term uptrend.
We aren't at these levels yet so I'm just keeping a watch now.
p/s with overall US market being rather bearish right now, it is best to keep positions small and be ready to cut quickly if wrong.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!