CDON Retracement Near Completion Buy Opportunity
CDON listed back in Nov 2020 and from 96 SEK up to its ATH of 975 SEK in January 21
its bullish cycle came to a stop at the start of FEB 21 .
CDON has nearly completed its retracement/correction from its dizzy highs of 975 SEK down to
current levels of 430SEK but expecting 300SEK.
and will be presenting a speculative Buy Opportunity .
Price action is trading within this falling wedge, I have done a standard FIB Retracement Pull from the Hi to Lo
and Volume has clearly depleted during this continued move to the downside as presented .
I would like to see the PA go down to the .786 fib level but of course it does not have too .
We can also build support at the current level 0.618, in which case if you wanted to buy then you should wait for a candle
close outside of the resistance . Until then though i expect sideways then one leg down eventually .
Please be aware that this is a highly speculative opportunity for the reasons i have provided below .
DYOR and know your invalidation and always use a SL .
Like and Follow for continued Analysis
21st April
CDON Q1 EBITDA Loss Widens To SEK 9.0 Million
5th March
CDON's CEO Kristoffer Väliharju Temporarily Resigns As CEO
10th May
CDON CEO Kristoffer Väliharju Resigns
8 June (Reuters) - CDON AB CDONAB.ST :
* SUSTAINABILITY IN FOCUS AS CDON AND BRING SIGN A LOGISTICS AGREEMENT
* CDON AND BRING HAVE SIGNED A NEW LOGISTICS AGREEMENT FOR SCANDINAVIAN COUNTRIES,
WHICH ENTAILS AN INCREASED FOCUS ON SUSTAINABLE DELIVERIES.
