Hi Gypaetus and Beany,
CDA - Gypaetus, the Supply you are referring to is quite old, going back to 2013/14 and, according to some writers, supply over 2 years ago is not so strong; therefore I would not place too much reliance on it.
I'm attaching another chart for CDA - but for the Daily.
You can see the last few bars drawing plenty of supply and whenever the price has closed higher, it has been a very poor reward (Spread) for the effort (Volume).
In my previous post I mentioned to Beany that I would not add to the position. I'd like to see a good pull-back or, perhaps even take profit if the price action so indicates. At the moment it is still go up so I'd just ride it as the momentum is to the upside.
RXP - I bought into the stock based on strong support levels but needs to be monitored for a possible breakdown; hopefully the only break will be to the upside. There's nothing wrong with the fundamentals either.
CDA - Daily chart:
View attachment 593157
cheers,
soccer
