CFO 0.00% 1.9¢ cfoam limited

CFO TA Perspective, page-10

  1. 477 Posts.
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    @share_time well the positive divergence played out well with down trend now broken. Predicting where the share price might go is fraud with danger , however I can give a couple pointers to lookout for. Firstly we have hit an old support zone which is now a resistance zone at the 43 cents level. There is overhang volume to negotiate as shown below. The CCI indicator (which is a leading indicator) shows on the daily timeframe an overbought condition similar to that occuring in early April. IMO we could get one more day of share price appreciation but as a rule of thumb if a share closes 3 consecutive days outside BB one can expect a reversal. I expect in the short term the price will retrace to early/ mid thirties to establish a higher low before another uptrend develops to take on stale holders in the high lighted zone with price aiming to take out 54 cents top of high lighted zone. GLTA

    CFO Daily HC 3 Aug 17 price prediction HC.gif
 
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