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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.