CIDM coiled up, watch for volume to confirm direction.

CIDM trading pattern moving into the final stages. In my opinion could go either way, however this is how trading goes. Can only watch the trend as it continues to develop. Looking for volume to dry up as it tests support around1.10 . A strong bounce off support moving the price upward with above average volume indicates to me a trend reversal. My analysis shows a key resistance point in the 1.61 area needs to be broken. With a strong enough reversal, if this is the case this would then become support.

Comment:

Holding until the 1.10 area which is the lows on April 13,16, 22. Also correlates with the yellow support line in the triangle pattern. Volume on May 7, 10, and 11 above average but not enough to create a reversal. Watching closely, have limit order in to protect against a sharp selloff. If I'm shaken out more reasons to understand when I took a position and how to time my next entry better. Whether this be CIDM or any other stock. If it breaks out I've protected myself (I think) as much as possible.

Comment:

a bit concerned volume has not picked up, still holding position and continue to watch closely. This is where limit orders are priceless (pun intended) :-)

Comment:

there is a small play with crypto in CIDM. Now that they are showing signs of life after a downward spiral over the last week maybe CIDM can work on breaking out of the current pattern. Holding with limit protecting sell off.

Trade closed: stop reached