Cello Breakout Imminent? After touching the highs from late Janruary, Cello has consolidated on the previous resistence at $3.50 and looks to be coiling for a major breakout. We need to find acceptance and consolidation around $4.00 before all time highs can be taken out. Volume has dropped substantially so we should see some movement either way in the next day or two.
There is a good chance of a back test of the trend line support that has been driving this move since early January. You can try and enter there on a back test or look for the increased volume and try and follow the trend.
Targets: $4.00 / $4.85
Stops: $3.10
