fibonacci pattern - bottom yesterday

G'day,

CST has been following an exact fibononacci pattern since its top of $2.60 a couple off weeks back.

This pattern uses $1.90 as the base, and $2.60 as the top.

Notice this gives significant numbers of,

$2.44
$2.33
$2.25
$2.16

Check for yourselves the significance of these numbers over the past couple of weeks.

As you see, Friday saw an intraday bottom of the 62% retrace point, $2.16, but importantly, CST managed to close holding the 50% retrace point, ie $2.25.


Holding this point, we will see a rally to $2.33 at least.


CST is a stock which has always had to fill any gaps, and Friday saw the gap between $2.15 and $2.20 filled.


I predict stability for the near future, with medium term strong positive technicals very much in tact.

Trading CST is an exact science if you can put a finger on its pattern.


All the best