$CYBL is repeating the descending triangle formation where it broke out on JUN 2021 and ran to US$ 0.066, a 65X move from the base of its consolidation. We are seeing a similar price action pattern. Buzz on the stock is also driven by transformation within the company and multiple revenue streams potentials. Price can still drop to its last resistance/support FIB 0.50 before we can see a strong momentum to our targets. Question is can holders still wait over 150 days to realize the targets.
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Price action is hovering just above our buy zone target. Sentiments are still bearish on this as it attempts to retest support level of FIB 0.50. If price closes below fib 0.50 stop loss should be taken as price might retreat to below 0.01 level. A lot of the traders are just panic selling every red day and shifting to other penny stocks with strong momentum upward. Patience is key for those long term and value traders.
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Price action bounced off next support of FIB 382, FIB 50 level proves to be a weak support as a lot of traders who bought between Feb and Jun must have been taking profit taking in the bearishness of the OCT market. Price has recovered from there and if stays above FIB 50 then its a matter of waiting game for long position to TP1. Chance to add today.