QUICK CLNP CHART WITH DESCIRPTION: http://stockcharts.com/h-sc/ui?s=CLNP&p=D&b=5&g=0&id=p28412888601&a=278196443 Just wanna stop by and say a quick word on some of the things I love about this CLNP BULLISH chart. Earlier someone was trying to state that this chart was no good, i would like to ease any fears of that being so. This chart is as bullish as can be.
I usually start talking about RSI 14, however as you see I have RSI 2 and 5 behind eachother, they have both reached the oversold position in this last sell off we had on Thursday. All the short term sellers are out and the RSI 2 and 5 are curling up and ready to make another run at it!Notice the last time they were both coming out of oversold, yes you got it!!! the original run!! wow! RSI 14 has also had a chance to cool off , which is wonderful, bc now we have much more room to run!
As for price action, what I see here is one of the best and most bullish chart patterns you can imagine! The high tight flag! This is gonna run imo. the "selloff" on thursday only helped us make a new higher low, the pattern was not broken , as it is the close that matters not the tails. As you can see the flag is getting tighter and tighter and soon CLNP with all its exciting happenings about to take place, will explode to the upside!!! Oh and one more things, CMF is way above 0, meaning bullish volume is pouring into this stock! Next week should be wonderful!
