Long
CSUN: A Technical Case
Prices rallied, then pulled back to three converging support levels.
It is at the bottom of a diagonal channel.
There is also a HIDDEN DIVERGENCE in the RSI(14).
It is in between the range of $2.20 and $1.45.
So, I speculate that from here the price might start to move up.
*Previous prices met the Fib Zone on April 16th and reversed. And now, it is today, May 20th, that prices hot another Fib Zone. So, it might reverse again, tomorrow.
Volume and price match, yet , although a reversal took place, this action may suggest buying spree by large players. accumulating the stock; or, maybe there was some panic. Only tomorrow's volatility and price and volume action will tells us where we are definitely are going.
I will check and update later on tonight or early morning.
Here is a bigger view of the chart:
It is at the bottom of a diagonal channel.
There is also a HIDDEN DIVERGENCE in the RSI(14).
It is in between the range of $2.20 and $1.45.
So, I speculate that from here the price might start to move up.
*Previous prices met the Fib Zone on April 16th and reversed. And now, it is today, May 20th, that prices hot another Fib Zone. So, it might reverse again, tomorrow.
Volume and price match, yet , although a reversal took place, this action may suggest buying spree by large players. accumulating the stock; or, maybe there was some panic. Only tomorrow's volatility and price and volume action will tells us where we are definitely are going.
I will check and update later on tonight or early morning.
Here is a bigger view of the chart:
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