first time ever looked at the CCU chartHi Bonehead, like your...

first time ever looked at the CCU chart

Hi Bonehead, like your work btw, but question, did you continue to hold after your buy signal back early Oct, as your stop should've taken you out by about beginning Nov ?

Looking at the CCU weekly chart, we can quite easily see that its been in distribution, starting way back Feb11.. each of the highs that its been making since then are simple traps, all are a form of top reversals, pan out to the weekly and look at them all, they have been formed either over a 2week period, up to the last major top Aug12 over a 4week period, all having the exact, same effect.

From that Aug12 high, its then continued to be plagued with supply, all the potential testing has been failing (BIG giveaway) and if one simply looks at how the last 4weeks have behaved..

2 of the down weeks have finished lowish, with an increase in volume and the other 2weeks have both been up, BUT, on reduced volumes ... ie. no demand

Of course I'm not saying that one could've read the bad fall of late, but if one had read or followed the chart, like CEB (congrats btw), one would not have been long with so much continuous supply abound, if they had been, as a trader their stops should've been very handy

sorry to see the fall

P.S. if anyone wishes to see this explained on a chart, no worries