CTST Daily Outlook: Bullish
In this daily chart IMO this supports bullish plays, in that we now have the 200 SMA providing additional support below slightly curling up to further upside potential. The light gray rectangle on this chart indicates consolidation is in play, which should allow for the RSI to cool off and allow bullish buyers continuation. To further substantiate this view a cup and handle is forming which as the chart shows, the handle should complete when the 13 SMA on its current trajectory around March 5th if the support holds. The sellers volume is dissipating which should gave way to eager buyers to jump in when 9.75 breaks. More conservative buyers will look for an initial entry when 9.85 resistance is pierced . Then there are 3 resistance levels to test to make way to the ATH 1st profit target. A boost frm the SPY would increase the odds for upside potential. Ideally the climb up to the resistance level would print some support levels which could be used as stop loss points. Note in my charting I always like to include the SPY & QQQ to gauge correlations, in most cases i will also add a sector leader to gauge performance. Additionally, I'm using the Bollinger Bands as an additional indicator.
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