CVGI bounced off support and through a weak resistance with volume. Would be nice to see it bounce off the trendline again so an entry could be made with a smaller stop. Vision also showing a buy signal on the last candle.
I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 71%
TARGET (EXIT) PRICE = 7.13 USD
BREAKOUT (ENTRY) PRICE = 6.70 USD
DISTANCE TO TARGET PRICE = 10.03%
EMERGED ON = Oct 14, 08:00 AM (EDT)
CONFIRMED ON = Oct 14, closing price
WITH CONFIDENCE LEVEL = 75%
Once the price breaks out from the top pattern...
Bottom fish the double bottom since it is close to double bottom, and monthly still in the up trend.
buy at 7, stop loss at 6.59
T1 8.00 (1/2);
T2 9.00(1/2)
if double bottom forms, prince go above 21ema and 12ema, get in ride with weekly trend and pattern breakout
target at 11, set stop loss at daily recent support.
( may be cautious about the descending...
Could be a good time to buy backed by strong earnings growth estimates and net profit margins. cvgi gained over 60% after latest earnings release in little time but gave up almost half those gains with the market sell off which gives us a good opportunity to get in. Double bottom formed with volume coming in on the lows. Looks like another consolidate + breakdown...
Nice little setup on cvgi with small wedge pattern after recent breakout of high and tight flag. Good momentum recently with big earnings beat. Volume is easing off a bit with three consecutive down days and hammer tagging the 10dma. Will look to enter if price goes though yeterdays high +10cent. Targeting recent highs possible 5-10%.
