Connacher Oil & Gas Ltd CLLZF

The TSX is still tanking hard

[BullCoin]

what does bother me is that institutions follow graphs as analysis. The P&F charts have painted for years a target price of $1.75 and with the recent triple bottom breakdown, that reality could come into fruition. You see retails that normally had buying power have been wiped out. So their accounts are wiped on a straight line and they are hanging on, but that line is well known to bankers. They know now how much we all have. They know our pain points. Mark the price down 50¢ and they know that everyone on that line is now under water. Before the crash people had cash and they lavishly invested in the market on the rising prices of crude. That crash has cut a straight line through many longs portfolios. It is a line that now gives the banks control over the stock. The banks have more shares now to mark the price to what they want. They also know if the trees are all trimmed into a straight line hedge that if they move the price down say $1, that the entire hedge of trees will quickly get trimmed to that same level. Not enough investors have extra cash to push CLL up to $6, or $5. I figured that production would move CLL up and that we would be an expensive stock, but it seems that because the institutions down own control of the stock yet, that we may very well see the triple bottom break of $1.75 first. https://stockcharts.com/charts/gallery.html?CLL.TO