CTD had broken out of the downtrend line in October with High Volume, and followed through with Bullish Price Action in the Month Of November. It made a high of $21.76 on the 26th of November and since then it has been retracing lower. Recent price action suggests that its retracement is over after finding Support and bouncing off at $15.50 (200 SMA). Currently it is at $18.94, coupled with a MACD cross also indicating it wants to continue higher towards the previous High of $21.76.
If CTD manages to close higher then its previous Highs above $21.76, we may see it continue higher towards its next Resistance which lies at $23.00.
Please note these are my own notes for future reference, by no means trading advice to anyone. Please do your own research before entering into any trade.
If CTD manages to close higher then its previous Highs above $21.76, we may see it continue higher towards its next Resistance which lies at $23.00.
Please note these are my own notes for future reference, by no means trading advice to anyone. Please do your own research before entering into any trade.