TA -another red candle week
Another week another red candle + red volume stick
geeesus
After crossing down 50 week MA = 350 DMA there are ONLY red weekly candles
4 in a roll - worst uninterrupted selling in over 1 Y
https://stockcharts.com/h-sc/ui?s=CMK.TO&p=W&yr=0&mn=6&dy=0&id=p77689840359
Coincided with fundamental disaster=
--a lie about 1.2 mt prod 2011 on $ 60 m budget turned out into
-- 350 SHORT kt prod and $180m budget LOOOOL
+ they are not done yet with final budget rise.and final lower production
(will not sell 3mt till 2015 if ever, neither $ 5 PPS- see GCE below)
Accum/distrib. indic
On balance vol and
Chi- Osc ARE GETTING WORSE =diagonal drop to lowest levels in years.
Chi- Osc suggest 8.7 m sh more sells than buys.
IN LOWEST POSITION EVER ( chart goes just 3 y back)
= HIGHEST number of sold shares balance (sell minus buy) EVER
geeeesus
Compare to 17 m sh buy balance at top in Dec 2010.
Last 4 weeks red vol sticks add up to 55m sh of constant selling pressure.
More than the 31m new sh dilution
BIGGEST 4 WEEK SALE EVER .
(plenty of new bearish records = "EVER "- lately, LOOOOL )
On balance vol dropped to lowest level in 1.5 Y- when CMK was 30c.
Momentum IS WORST IN LATEST (3 Y) HISTORY and worse than other indic.
Steep down trajectory continues
(they have to move the bottom of MCAD- ind. box down to accommodate the
60 degrees falling line- LOOOL)
Deeper and steeper momentum loss than momentum gain on rise from $1 to 5
geeesuss
https://stockcharts.com/h-sc/ui?s=CMK.TO&p=W&yr=1&mn=7&dy=0&id=p45203787341
% Bullish Ind. and Money Flow Ind ----LOWEST IN 1.5 Y
IN SUMMARY - TA = HOPELESS WASTELAND
Horizontal supports :
2.0
1.75 -very weak
1.5
1.2 = 200 week MA
Goes EXACTLY AS ALL THE COAL MINING STARTUPS BEFORE CMK
There is no more WTN chart to show same , but GCE example is here
https://finance.yahoo.com/q/bc?s=GCE.TO&t=my&l=off&z=l&q=l&c=
What happened to GCE in next 3 years after opening their mine.?
and disappointing MUCH LESS than CMK disappointed?
Went from $18 to 40 c !!!!!
CMK equivalent = 20 c in 3 year-long grinding bear.
With biggest drop in first year ( $ 18 to $ 2.2)
GCE -mine was doing so-so - to OK in those 3 y after startup.
But GCE stock was a 3 Y disaster.
Never surpassed ( 6 y so far ) the speculative pre- production bubble high.
So ,CMK first 5 months is just an eye- blink in comparison what's ahead.=YEARS OF DOWN TREND/ or dead money at bottom.
This time is different .. eh LOL ?
The last stubborn bulls - refusing to see reality disappeared completely from GCE board after about 2 years.
But before that ,the last one started talking to himself ,
( like GOD -to Cooper - to-Bates LOOOL)
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=CMK&t=LIST&m=29856631&l=0&pd=0&r=0&msg=3
More here
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=CMK&t=LIST&m=29880561&l=0&pd=0&r=0&msg=3
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=CMK&t=LIST&m=29874642&l=0&pd=0&r=0&msg=3
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29824497&l=0&r=0&s=CMK&t=LIST
.