Cmp 2759
Long suggested above 2820
Stop 2570
Target Open
Rationale:
Weekly :
1) Passes Mark Minnvervini's trend template
2) Price closes above quarterly pivot zone.
3) Pivot based EMA Oscillator (PEMA OSC) color change indicates a possiblity of next leg of upmove.
Daily:
1) Next period (monthly pivot) Pivot zone for daily charts is very narrow, suggesting a price in a possible contraction phase, signalling possibility of a big move in the day's to come.
2) Price closes above the current pivot zone and next period's pivot zone..
3) MORE IMPORTANTLY, VCP PATTERN OBSERVED. 40/23/10 - 3T pattern, meaning 40% correction / 23% correction and 10% correction in 3 stages with higher high formation.
Long suggested above 2820
Stop 2570
Target Open
Rationale:
Weekly :
1) Passes Mark Minnvervini's trend template
2) Price closes above quarterly pivot zone.
3) Pivot based EMA Oscillator (PEMA OSC) color change indicates a possiblity of next leg of upmove.
Daily:
1) Next period (monthly pivot) Pivot zone for daily charts is very narrow, suggesting a price in a possible contraction phase, signalling possibility of a big move in the day's to come.
2) Price closes above the current pivot zone and next period's pivot zone..
3) MORE IMPORTANTLY, VCP PATTERN OBSERVED. 40/23/10 - 3T pattern, meaning 40% correction / 23% correction and 10% correction in 3 stages with higher high formation.
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