The CMG stock sell from 56$ Stop loss closing above 69$ is rising within an upward channel. It broke through the upper boundary and triggered a trap, then fell back inside the upward channel. It then bounced off the channel's midline, which has supported the stock several times. Afterward, it returned to test the upper peak of the upward channel and indeed dropped sharply from it. We anticipate a decline to the lower boundary of the channel, and from there, we will monitor the prices. If the stock manages to hold the decline and we see some price action, it could signal an entry point. Otherwise, it might break the channel.
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