CMG Holdings Group Inc (CMGO)

[coolnapz]

$CMGO weekly chart

It's only Tuesday so we do not have a fully formed candle at this point. However, to give you the perspective of where $CMGO is trading relative to the 2010-2011 rally up to 40 cents, take a look at the chart below.

As you can see a move to 10 cents is a 25% retracement of the move up to 40 cents. Obviously a move to a nickel is half way there, a 12.5% retracement of the overall move.

I don't want to get too deep into retracement theory or Fib levels but all you have to know is that stocks like to revisit levels at which they traded. CMGO is currently visiting the February high and looks like it wants to trade above that level.

Notice that right about this time last year $CMGO traded at the 10 cent level so a journey to that price would not be a venture into uncharted territory, but rather a visit to familiar territory. Don't be surprised by any profit taking, in fact expect some along the way. However, be aware of the big picture and longer time frame and plan accordingly.