Great result with the SPP + placement to existing shareholders. Now onto the AGM.
Technically speaking 5.7c in the short term is important, being the 200 week moving average, with a break above this mark signalling a strong advance towards the 8c mark. This would see the MACD and Stochastics both turn up nicely.
If i take a step back to try and gain some perspective on the monthly charts 6.7c - 200 month moving average, is the key level of resistance, that once broken will see us back into a much more favourable trading range, with the next level of resistance coming in at 18c. A move through this level will see the MACD turn positive, along with the stochastics. The Stochastics should then start to advance from the deep oversold level. I think this move will be powerful as it should cement the change in trend for CVT for the long term. Interesting to note that the rally that took us to 10c recently rejected the 200 month MA. The next few months for CVT should be very interesting.
Hard to see the candlesticks on the charts, but you get the gist.
CVT Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
