RE:Technical Alerts: Very BULLISH on CJ
Thank you for posting and Happy New Year to all. From my technical view, it appears that although CJ looks very bullish, there might be some opportunities to buy on dips? Aren't some of the indicates more neutral?
Parabolic SAR is a buy indicator yes. I've never encountered the Keltner Channel, more chart school for me!
Other indicators I follow are:
The ichimoku cloud trading bullish well above a green cloud with upper and lower at $4.80 & $4.66
MACD +0.07/0.03is positive as well
RSI at 62 is positive and not overbought but seems to be taking a breather?
CCI is bullish +150 but needs to be watched?
PMO is positive 1.95/1.50 but also needs to be watched?
SCTR is positive at 70.9 but also needs to be watched?
The SCTR on CJ is similar to BTE which several of us also follow. It was deadman walking from January until November and since then, has been trending up. I love learning about charting, I might even become comfortable one day short selling.
In the meantime, I agree with some of the daytraders here. If a small time self investor like me can clearly see the bullishness in the technical analysis, how on earth are professional traders still short selling Caridinal. Yes, they dilluted the shares from 74M to 111M in 2017 but they acquired all the assets from big league Apache in Canada.