CNS Pharmaceuticals broke resistance. CNSPWhich is a technical confirmation of an impulse in the direction preceding the crossing, invalidated by the crossing of the said level once in the opposite direction. Don't worry if that doesn't make any sense to you.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
CNSP
Long CNSP to $4.12 above 3.50Long CNSP to $4.12 above 3.50
CNSP has reentered a trading range if you look left.
Symmetrical triangle formation, in confluence with the 786 fib, and monthly resistance levels.
100% measured move on the possible breakout would put us near $4.20, and just under a historical closing range at $4.32
Possible targets above that would be the 1.618 fib at 4.66, or 5.27. All time highs would be 5.71
However, the RSI looks over extended on the 4HR and the macd implies buyers are exhausted
on the breakdown, i would look for support at the 786 fib at 3.35 or the 618 at 3.08
Beyond that weekly support would be 2.85 and not unrealistic that we would get a retest of support if we break to the downside.
Concluence with the 786 fib and the parallel trading channel in red, would imply we could find support at what used to be our monthly resistance.
If we fall out of that trading range, i would look for entry at 2.85 or 2.70