CTSI Target Hit - Bottom is in?- AWAITING BOTTOM CONFIRMATION -
Nice setup imo for a trade to the top of W3 and a long tail wick rejection to 0.6205. The sell target box (red) lies at the 1.618 retracement of W0-1 and has been brought forward from the last post. Could be a nice 50% pop before late Jan pullback.
Further downside to .382 is possible as there is a strong confluence of support there and would be a more typical level for retracing a W1. We're good at levels here, not timing so patience and good risk management is key.
I want to see more confidence on the bottoming before I play ball. Such as:
Positively divergent lower low on MACD and or RSI (both is best) on a higher time frame (2 or 4hr is enough)
a confident break above the grey trendline