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I think you are reading this chart wrong. Descending triangles occur in downtrends typically. If you haven't noticed we are in an uptrend (you have to look at the chart as a whole here not just the past week and a half).
This chart is a clear bull flag. Go back to April 6th on the chart and you will see the same thing forming and you will see the result of a break in the bull flag. It usually results in a big pop in price that then settles into a new level of consolidation of the overall uptrend.
I see a bullish flag appearing similar to what we just saw a few weeks ago. It should coincide with a bounce off the 50 on stochastics. Very bullish imo.
Well I simply stated that .045 was weak resistance. You're right to say that it isn't considered resistance just because we stalled there yesterday which is why I considered it to be weak. A break of it is still very bullish and we have just broken that. Now to tackle the real resistance and after that we should fly.
I know .0442 is the pivot but I would expect .045 to act as weak resistance like it did yesterday. After .045 then .056 or .0621 are the next hurdles. I expect a late day run up, but if not then a close here would still be very good for the upward push of this stock.
It has finally moved above the .045 range and should form a base here before moving upwards. This is what has been happening. Perhaps a move up at EOD is in order. It could still go below the current levels of course, but .045 should act as support right now. Old resistance becomes support once broken after all.
The lows of the day are in place and I don't think we test them again today. .045 is putting up a fight but we've broken it once and it is very weak resistance. The RSI is a concern only for the short term, but notice during the walk down it stopped right at the 70 line and then moved back up. Bouncing off the 70 classifies it as a super bull.
Exactly, it wasn't going to break .056 on the first try in the first 10 mins of trading today. We just passed hurdle one with the weak resistance of .045 being passed. All part of a process and in the mean time this is a very very viable company that makes money and trades for less than a nickel. Do the math.
Called .038 as a bottom, hope everyone was able to get back in on time. This .045 seems to be weak resistance which also may encounter at .05. .056 is the strong resistance, and after that we should move fast.
Everyone just relax. This is just filling the gap that formed yesterday just as everyone knew it would. This just offers a great trade opportunity. If you want to load up for the long run do it as it hits between .036 and .038 and never look back. It looks like it found some footing here at .038 and we can still see green+ today easily. It's a GREAT sign if the gap is filled.
This could go to .0365 to fill the gap then it should run hard.
News is due out by April 30th (tomorrow) about the progress of the bond renegotiation which has been rumored to have been doing well. This is likely moving up in some part because of that. Possible leak?
Holding strong over the 50 day MA is a great sign and as you mention the MMs not bringing it down through the use of small bids is good also. I went by one of their plants the other day and talked to someone in management who assured me that Caraustar is not likely to go out of business any time soon. Now if thats to be trusted considering the biased source...we'll see.
I agree. The bid is very very close to the moving average. If it closes above that then this could test .2152 which is the upper bollinger band using (35, 2. Exciting times. I dont see a pull back before a break out. GLTA as always.
Csar is showing some strength today. Increasing volume compared to the past few days. A push to .15 and a hold there may result in a huge surge in the share price since the 50 day MA is .1496.
The prospects of this breaking the 50 day MA is very exciting. It's been acting as resistance and could be broken any day now. GLTA.
I think the closing of this mill for good is a bullish sign for this company. Obviously the main question with this company is if it can continue to operate as a going concern. This mill was already closed on a short term basis, and Caraustar mentions that it will be able to retain all the customers and be able to service them via their other plants. What this does is maintains revenues and decreases cost through the closing of the plant. I'm pleased to see that management is taking steps towards saving this company instead of sitting idly by as the company sinks away. It is of my opinion that Caraustar will survive and prosper and therefore we should see the share price surge. Whether we see this short term or long term is yet to be seen, but I think we'll see a steady uptrend until June and then we will see significant price movement depending on the outcome of the senior debt being refinanced. GLTA.
CSAR showing strength again today just like I said it would following what I called a healthy pullback. This stock is severely undervalued right now. The senior debt has a greater chance of being refinanced given recent macro events which means in the near to long term this stock could explode. Good luck to all
This looks like just a healthy pullback today after a big move up yesterday. CSAR hasn't been trading with the market anyways, so a pullback on a day where the dow goes up 500 points is nothing to worry about. Nothing goes straight up, and I plan to add in the morning if it pulls back anymore. I expect tomorrow to be a good day for this stock.