Brace for Impact - but this shouldn't 'crash' much moreThe bandits aren't done getting on board before we are cleared to crack $10
Now it seems they are attempting a coup and a changing of the guard running stops again
I for one welcome the opportunity to add somewhere on this flight's temporary diversion.
This stock spent the better part of 2017 in an oversold condition and only recently has presented worthy oppportunities to add ... those first 2 'flash (engine stalls)' were so quick and out of no where I didn't get to add.
I don't think it is anything fundamentally wrong
Think it is more likely technically driven 'consolidation' (orchestrated by the big boys who want to sit in first class) after the 12/29 high $9.80 printed a doji that day (can be a reversal candle or at the very least 'indecision') and then a few days of sideways coiling, it had to break one way or the other. Drifting below the 20dma on the close yesterday & then the 50dma today the pirates pounced in and took control of the downside momo
If $9.11 gives way we could well dip in to 8's briefly my lowest bid is 8.56 but I'll be very surprised if that one fills ...8.93 is the 100 DMA I highly doubt we see a close below, but if the raid is on we could dip below intraday as soon as tomorrow before we can pull up out of this sudden tail spin
Note the NVI (Negative Volume Index) on the bottom of the chart is picture perfect with the indicator line traversing above the 255MA and has been for 5 years.... even before then was only minor dips below it
Just as pretty on the Weekly Chart the NVI has stayed above since late 2013
It is my favorite indicator for finding stocks with sustained strength for my long term holds.
Unless there is something going on fundamentally we don't know about yet, this is a stock where you buy the dip imo.
As buggy as StockHouse is sometimes the charts revert to the default from StockCharts.com so here is a link should display the NVI
https://stockcharts.com/h-sc/ui?s=CHR.TO&p=D&yr=0&mn=3&dy=0&id=p06625604483&a=569642727 