Sunday, June 18, 2017

[CBDS] update

CBDS broke out the inverted head and shoulders neckline pointed to in the backlink and is now testing the lower rail of its falling wedge.  I would normally expect to find resistance here leading to the potential for a double bottom.  But if instead this gaps up on Monday then my Elliott wave model will be signaling that the run above $9.5 has begun.  A break out of the top rail would confirm that a powerful new wave up has begun since it also coincides with the 200 day moving average right now.

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