RE:CHART: Bullish Concordia Healthcare Technicals (CXR:TSX) TA works on non-manipulated companies. "Manipulated TA" works on Manipulated companies.
In this case, we have huge inputs that must be factorted on CXR.
1. Massive insider selling just before Q3 financial release after a disaster Q2 that guided down
2. No Insider buying. You're figure the "yet to be determined when" CEO/Chairman having made millions off his August and Septmber creative insider selling would be buying here?
3. A stock that is fueled by "rumours leaked to the press by sources close to the company". The run last Thursday was a good example of market-savvy CEO using TA to "help" the run. Can to 50% upside before crashing, being halted and post news finishing -15% off halt! It''s been heading down to new lows which we should see once the press starts to discuss the new set of massive insider selling.
LongTermLong wrote:
If technical analysis is to be trusted, then these two indicators are about to reward Concordia Healthcare bulls:
1. Linear Regression (Slope indixator) points upwards and is about to cross 0 into strong bullish territory. Currently it stands at -0.07.
2. Chandelier Exits have given short-sellers signal to cover their positions 5 days ago. Those who did not pay attention got burned. This indicators continues to favor bulls. CHART link (copy and paste url):
https://stockcharts.com/h-sc/ui?s=CXR.TO&p=D&yr=0&mn=1&dy=0&id=p78892835223
Short url: https://schrts.co/zjPzB8