AntMwah
Long

CTAG - Technical Bounce or Next Wave Up?

LSE:CTAG   None
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1
I'm long on CTAG. After extreme selling and a bull squeeze the SP held its 200MA for a long time before it broke but was swiftly stabelised on the 78% Fib line. Yesterday the company released news indicating that it's product will likely be ready this month and this drive a huge volume and bounce re-taking the 200MA and challenging the downward trendline .

If this breaks 8.5p I would say we will see a push to at least 15p given the various gaps to fill on this chart. Further catalysts from the company give potential for a much bigger move however - up towards upper 30's if we follow the Fib extension through.

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