This board is to discuss California News Tech. (CNTE)
Why I would trade this stock
Simple, it has a pattern of making big moves. The pattern is this: $0.50 is the bottom on this stock and the top is around $1.00 -$1.40. Almost every time it hits $0.50 it gets volume and bounce upwards of a $1.00. (Check the chart and see for yourself)
That's a lot of space for profit.
How I would trade this stock
First confirm a breakout by watching for
i) It to hit the bottom of around $0.50
ii) Start moving up from the bottom of $0.50
iii) Touch any of the daily moving averages: 50 DMA or 200 DMA usually means a breakout
iv) then buy and sell within the momentum wave
I am creating this board here today because based on my analysis above CNTE is going to have another breakout this week because It's started to repeat the pattern I described above TO THE TEE. Check out the chart below:
Check out the 50 DMA at Friday's close price of $0.60. This means a pretty good chance of a breakout Monday morning.
To me this stock is an ideal short term trade, and is one of those stocks which can be traded over and over again.
Worth at least watching in my opinion.
This board is for DD/discussion.
Please no hype/bashing/nonsense stuff
ALL THE ABOVE IS MY OPINION BASED ON MY OWN TECHNICAL ANALYSIS ONLY. PLEASE DO YOUR OWN DUE DILIGENCE AND MAKE YOUR OWN INVESTMENT DECISIONS