CNC gapped up on Friday, despite the overall bearish move on the US Indices. This was a quite significant move as there are a number of reasons to support a continuation of the uptrend - in the near-term at least.
Firstly, price gapped up above 3rd December high of $101.83 and the $100 figure. Second, this also confirmed a bull flag formation or, if you prefer, there was a reasonably even double bottom pattern. Finally, there was higher volume on the breakout bar.
Overall CNC is in a bull trend. There have been a couple of pullbacks which have been on the deep side since the weekly uptrend began in May but I would not look to take a longer-term position right now anyway (until $100 has been retested). Near-term, however, the signals are good for a continued move up so a small profit could be made here.
Firstly, price gapped up above 3rd December high of $101.83 and the $100 figure. Second, this also confirmed a bull flag formation or, if you prefer, there was a reasonably even double bottom pattern. Finally, there was higher volume on the breakout bar.
Overall CNC is in a bull trend. There have been a couple of pullbacks which have been on the deep side since the weekly uptrend began in May but I would not look to take a longer-term position right now anyway (until $100 has been retested). Near-term, however, the signals are good for a continued move up so a small profit could be made here.
Web: dt.live
Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Web: dt.live
Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.