$CM8 right shoulder likely in place
The move above the minor pivot of $0.195 in the last few days looks very bullish as it had the support of strong volume. The long-term inverted H&S looks more and more likely with a price target of its ATH price of $0.36 if confirmed.
From here, we would ideally like to see a few tight sideways days on low volume before a breakout of the neckline. This would turn the right shoulder into a Cup & Handle formation, which is extremely bullish and would be a point to add into current position or enter into a new one if not already long.
From here, we would ideally like to see a few tight sideways days on low volume before a breakout of the neckline. This would turn the right shoulder into a Cup & Handle formation, which is extremely bullish and would be a point to add into current position or enter into a new one if not already long.
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