RE:Technically CPG To Change Direction@Leewardcape: Nothing goes straight up. There will be pullbacks. But, personally, I don't make investment decisions using technicals. I use fundamentals. I would not sell out of my position now hoping to buyback later at a lower price. With huge inventory draws expected in the forthcoming weeks and the global economy continuing to open up, the fundamentals are constructive.
Had I used the same logic to sell out of my position at year end 2020 because the technicals on WTI and CPG stock was showing it was overbought (which they were as both had appreciated significantly in a short period of time), I would have lost out on a lot of capital gains and I'd still be waiting for the pullback that never came.
I can accept that CPG's stock will not go straight up, but it is important for investors to have an investment plan so they know when to buy, when to sell, and the reasons behind each decision. Using an isolated technical indicator to make your investment decisions is the height of stupidity.