Weak
Updated
CMG didn't see near the bounce that most stocks did on the initial bounce this week. Signaling some weakness in the stock. Looking for a quick pocket fill down to 637. If that were to break...50 on the fib looks like the next area of resistance.
I like the risk/reward around 637 for a long here. Could see a bounce to the 200dma around 780 or even a gap fill around 840 depending on strong the overall market recovers.
I like the risk/reward around 637 for a long here. Could see a bounce to the 200dma around 780 or even a gap fill around 840 depending on strong the overall market recovers.
Note
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