Chart pattern:
Since 2014 a regular chart-pattern can be observed in the Clinuvel ( CUV ) chart. After one year of a strong run-up (mostly starting in late February), the stock reaches a local peak (around Sept-Nov) and starts a correction (around -35% to -50%), followed by a longer sideways consolidation. Then the year after late Feb the next run-up starts....
Hey everyone,
I think Clinuvel passt through it's regression and is now on it's way to get back upwards.
My first goal is the Resistance zone so i'm gonna set my TP at 24.25$.
RSI and my Histogram also show to buy.
Much fun with that trade!
Leave a follow :)
From September 2018 through to May 2019 this stock was in a re-accumulation phase. You can see there was a sell off in September when supply it the market and the stock pulled back.
From November the stock hit support and from there we started making higher lows. We took at the top of the trading range in late February where we a sign of strength. The stock was...
On the weekly the MACD is bearish with the Stoch doing the same thing, it needs break below $25.61 for a start of a bearish trend. On the Daily, the chart shows that the stock has rally to the 13 ema with the confirmation on the stoch as a bearish move for a breakout. Looking for shorts below $24.61.
On the daily it had a nice rally into the 13 and 20 EMA with a downward trend on the 50 EMA, also the stoch confirm bearish movement as well. On the weekly, it is up trending, but if it goes past $24.61 it might be a start of a bearish run. Will keep this on the watch list, looking to short below $24.61.
