After around 6 months going sideways, CNPF finally break’s out of the resistance! Using moving averages and MACD, the stock reversed and started to move up mid November 2014. All of its moving averages (short term – long term) are as bullish as ever.
What’s next for the stock?
Now that the stock has broken out, it must stay above 17 for the uptrend to progress further. If it stays above 17, we may see the stock go to as high as 18.4 over the mid term.
What if the stock fails to hold 17?
A retracement to 16.4 may be possible over the short to mid term as there is also a possibility of investors trying to secure gains and take profits.
As always, I hope this analysis would help you research and study more before you make your buy or sell of the stock. The market has been off for a great start this year and I hope you continue and push hard and well as we go through the first month of trading. It’s time to be stock smart and financially free!
God bless you!
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