sorry i made a mistake on the last chart when drawing the gap....

statistically, most gaps get filled. Right now, CMG has only partially filled the gap. At the moment, we have some overhead resistance from the 200 EMA . Also the stochastics and RSI are looking a little bearish , but they can get imbedded at overbought levels for some time, which occurs in an extended run up.

So........ is CMG going up, down, or nowhere? what are your thoughts???????


stochastic looks embedded, usually see this followed by a continuation, however looks like fairly strong resistance where it's at. I like a move back down to about 335-340 on the short term for a nice scalp.
do you see a bounce back up after it reaches those levels?
Damn, I just checked the chart. Looks like it did pull back and test 335 today. I don't think this is a strong position to take at the moment, there's too much directional risk. If 326-27 holds, I'd consider a long, as the bottom of that previous channel would be back in play.
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