CNC, the breakout we've all been waiting for!!
As you can see there has been a rough resistance at the 74-75 levels and it has been like this since August 2018. For me, the volume speaks volume and if you are to compare the volume levels to the previous volume levels we have got something juicy. Each time at this 75 dollar level we have never experienced high volume and finally, it has come! Quadruple top on the long term mixed with an ascending wedge just screams breakout play.
TLDR:
1. Longterm ascending triangle.
2. short term bullish wedge breakout
3. 4x top
4. most importantly increased volume on the run-up to resistance.
Would love thoughts and ideas about this idea or if there are any questions.
TLDR:
1. Longterm ascending triangle.
2. short term bullish wedge breakout
3. 4x top
4. most importantly increased volume on the run-up to resistance.
Would love thoughts and ideas about this idea or if there are any questions.
Comment:
This play is still completely intact. We are getting a consolidation at a much higher price than any previous time before. Patience and price action are key in the markets so only time will tell.