Based on Current PA, I'd like to see some rebalance at around 46s level to wait for a long opportunity. My Key Levels: *46.20s: probable long opp. **53.50s: 1st long target. ***62s: 2nd long target. ****65s: 3rd target *****72.80s: 4th and final target
Strong earnings reports demonstrated company's ability to be able to generate profits and refine their operations costs. Their were able to create a profitable 2019 as compared to 2018. I believe the report will aid the stock to rise higher over the next few weeks.
CPA seems broken down from a rising wedge formation, retested it & now falling down. Moneyflow was diverging & now broken down to the negative side. We think it will decline to 75 area. However for a proper short entry we would like to break underneath support. You can check our detailed analysis on CPA in the trading room/Executive summary link...
Prior to this continuation pattern we had Head and Shoulders pattern that reversed long uptrend. Currently, we had nice downturn, followed with this continuation pattern. Here, we have very good RRR 1:4. Thus, very plausable trade. Have a nice trading week, Vukman