Over the past few months CGNT has exhibited a constant uptrend. Initially, it broke out of the original ascending triangle (Blue Lines) and ran for about 5 days until buyers locked in their profits and sold, causing a retest of the 13EMA. Moreover, the stock is riding the 13EMA upwards. I believe that the stock will reach resistance at (3.36) within the next few...
Cogentix Medical Inc. (CGNT) topped out in the mid-20s in 2005 and tested that resistance level in 2008. It then entered a severe downtrend that continued into the May 2016 all-time low at 71-cents. Price action since that time has carved a multi-leg recovery, with the stock recently bouncing off new support at the 200-day EMA under $2.00. Pullbacks to the blue...
Looking for RED Monday, all the way to support @ 2.60, Maybe lower.
Next couple of day looking for breakdown to 50WMA & bounce from there.
For long term perspective, highers lows, highers highs, Bullish signs.
For next couple of days I'm bearish.
Cognyte Software Ltd. provides security analytics software that empowers governments and enterprises with actionable intelligence for a safer world. The company was founded on May 21, 2020 and is headquartered in Herzliya Pituach, Israel.