CSLT is reporting earnings today so this is fitting.
Looking at the monthly chart over the course of two years you can see the downward channel it's been following.
Due to a string of better than expected earnings, it broke up through a major downward trendline that was weighing it down. My guess is that they'll beat earnings today as they recently had COVID...
Taking a look at the monthly chart you can clearly see it's been in a downward channel for the last two years, but recently...
It broke that downtrend line, likely due to consistently beating expected earnings .
*NOTE: Today is earnings day - they are reporting after market close.
With a chart like that, the short term target is the Moving Average at ~$2.5. As...
A head and shoulders formation is nearly finished forming (it's finishing up the right peak: shoulder).
Once formed you can expect a drop of 1x the distance measured from the baseline (neck) to the head.
My previous rule was in play for the downtrend line it recently broke upwards through, so it's no longer in play, but it still can give some resistance.
The resistance levels to look for during its climb will be approximately be (the MA numbers will change as the price moves):
50 day moving avg $0.0352
61.8% fib $0.0373
100 day moving avg $0.0380