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CTD - Bullish Trade PlanCTD has given an anticipated pullback lower, but the question is that, is the upside swing ready or it may go a bit lower to give a buying opportunity? I have two scenarios: Scenario 1 - Can go higher after the recent bullish bounce i.e it may march higher. Scenario 2 - Can dip lower towards my Buy Zone and trendline Support between $15.00 - $15.60. In both the above scenarios, my target is the same as this could be a B wave. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:CTDLong
by AsimMirzaTrader
CTD - Expecting a Deeper PullbackCTD has been rallying since the huge drop it experienced during the pandemic and it seems that it needs a breather before the upswing continues. CTD has been in an uptrend forming higher highs and higher lows but now we are expecting the current pullback to be deeper because of the Bearish Divergence on MACD and the Bullish Momentum getting weak. We are expecting price to come down to its Support Level (also the Trendline Support Level) between $14.55 - $15.25 zone. This could be a zone where we expect CTD to find buyers and take price higher. We will be monitoring the Price Action closely once it find support and will update accordingly. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:CTDLong
by AsimMirzaTrader
CTD - Will it continue Higher?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.
ASX:CTDLong
by AsimMirzaTrader