Clearvue Technologies - what next ?
The price has previously hit .46c and retracted to the .618 fib level in July -Aug 2018. It is now back at .46c and the rising channel is supported by the 50 day MA. Will it break thru or retract ? If it breaks thru with a strong momentum, we are looking at price making new highs, probably after a retest of the .46c level.
Note
A strong break thru the previous high happened today. I expect it to retest the .45c zone before it launches up.Note
I think we may have to forget the restest ? :-) it is on its way.Note
Haha !! spoke too soon. We have a bearish hammer candle today (12/09) with the highest volume traded in the last 20 days.Note
Level .45c -.47c is the 50% fib retracement and the previous resistance, whilst .38c is the 61.6% fib and is close to the 50 DMA. Key levels to watch for a bounce back. Volume is quite heavy.Note
Price has retraced to the 50% fib and is supported by the 50 DMA and the trendline. The 0.46 zone was also the previous resistance and we have a confluence of supports. This should hold...Note
The .45 c zone is now resistance and price will need to break and close above that for the bullish trend to resume.Trade closed manually
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Disclaimer
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.