Cardinal Resources Inc fka CDNL

[lowtrade]

CDNL chart update

Nice day. I was very concerned when .016 support broke down. The next support level was .013 and even though it gapped down at open, it finished strong. Support held, that was encouraging. Also even though it finished down for the day. Closing above the open was a positive. Volume was a null.

The light shining for down trend reverse is there are 2 gaps above now. With a candle which signaled trade psychology change today. Still have direction concern until price gets back above .016. But things look better today, then yesterday.

TA entry/exit indicators are at a null. not bad yet, but still saying indecision point. Support indicators are showing some weak accumulation the past 3 days. A positive considering it's been retracing.

There is a gap below MAY 2nd. which could still cause concern. But 1st gaps in a new move are often left behind. And it didn't seem to have much strength with .013 holding so far.

Here's a warning though. If .013 does fall, the gap below at .0115 will probably take price below 1 cent and that could trigger panic selling. So far selling sentiment has been weak.