CNC 's final test approaching?
Of the 8 indicators I use, 6 have formed a positive divergence and a large one at that. Small divergences started in May and increased in intensity from July going forward. These are the types of setups that can provide you with violent moves up (for this case) in the stock price. At this point we've set a support level of 1.40. Previous support and resistance a few times. I'm not setting targets below that because a close below wouldn't be good at all. And the problem is if I see that, the professional scumbag manipulators see it also. My gut is telling me it's going to hold above 1.40. We're at support now. The 10 day, 50 day and 10 week averages all hover here within a few cents up or down from this price. I think we break below these in the coming days but my guess is somewhere in the low 150's we hold. I won't know for sure until I see the indicators when that time comes. The fly in the ointment for me is I can't tell if we're getting some kind of a crash in the markets very soon or later in the fall. This may make CNC 's fight an uphill battle. If we're fortunate, we open green on Monday and never look back... Hope everyone enjoys their night. GLTA