Cline Mining TA+FA gee-licious
Mediascan wrote 7:55 AM (CMK close July 4 $ 2.57)
"All indicators are pointing up now..... next resistance at $2.80."
https://stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29935357&l=0&r=0&s=CMK&t=LIST
Well, 4 PM $ 2.38
all indicators pointing down now AND SHARPLY SO ... LOL
https://stockcharts.com/h-sc/ui?s=CMK.TO&p=D&yr=0&mn=1&dy=0&id=p34906863758
10% pop on 1.9m sh vol yesterday
Giving up most of the pop next day ON
3.3 TIMES THE up VOLUME. yesterday.
6.6 m shares !!!! ---geeeesuss
Close at lows of day .after RELENTLESS DUMPING - not even decent intraday bounce
So, Mediascan wrote 8 hrs after above the updated TA here
In 2 words:
IT'S UGLY .
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29938203&l=0&r=0&s=CMK&t=LIST
There is this little fundamental obstacle to TA
The 30m shares by bagholders who bought @ $ 2.75
selling at / below that level to get out at even
(some front running the sale at slight loss to SELL AT ALL)
Maybe 3-4 m shares by the bagholding PP escaped at near even.
20m sh to go LOOOOL
The 1 m shares block sale 12 :30 pushed the drop 10 c further.
THE DOWNTREND line from $ 5 top ,at 2.62 was perforated just for few minutes
Back into DOWNTREND CHANNEL on huge vol .
You don't wanna know the bottom of the down - channel LOL
Today's sell vol was almost as big as 4 previous days of buy vol geeeesus.
50 DMA at $2.77- and dipping mighty , acted as cement ceiling
================
When the cat turns away , the mice get out from their holes and do victory dance in the middle of room.
Well, the cat returned from holiday and ATE ALL THE MICE
GEEE- licious
. LOOOOOL
There is a 5-15min charts- TA for daytraders
and there is daily-weekly charts -TA for investors.
As I wrote here
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=CMK&t=LIST&m=29931883&l=0&pd=0&r=0&msg=3
The third wave of selling is yet to come after the bounce
300% production and capex MISS / disappointment /LIE
( budget short by $ 120m vs pump ,AND COUNTING )
didn't translate YET into share drop by 3,
from" fair value" ( $ 2.4) before the disappointing news.
And of course there will be more disappointments, delays
, running out of money again AND EPS LOSES..
.