Creative Edge Nutrition Inc (FITX)

[withlove]

Cen Biotech: A Promise Delivered !...:

" 'Health Canada inspectors were present on July 31, 2014 and conducted their pre-license inspection. The facility was built according to specifications provided to Health Canada. We look forward to the next steps in this amazing journey,' stated Bill Chaaban, President & CEO."



FITX Rounding Bottom Pattern



Rounding tops and rounding bottoms occur as investors have an almost paradigm shift in their bearish or bullish expectations. This gradual, yet steady shift forms a rounded top (bearish) or in this case, a rounding bottom (bullish) as the outlook begins to conform to the market's expectations.

"Volume during both rounding top and rounding bottoms often mirrors the bowl-like shape of prices during a rounding bottom. Volume, which was high during the previous trend, (bearish) decreases as expectations shift and traders become indecisive. Volume then increases as the new trend is established" Technical Analysis from A to Z, Steven Achelis

The rounding bottom of FITX is a perfect example of this technical chart pattern. With volume of over 60 million trades, that was well above the average 17 million for the stock, it would be prudent that this shift has gradually occurred and will optimistically catapult to new highs investors have yet to seen.

Peter Canellis, owner of PGC Trading and co-founder of Trader's lounge explains:

In the FITX Rounding Bottom example you can see that the price climbs into the pattern. Once the pps runs into the trend line, the pps soars out and up to the right side. Typically once this occurs the pps begins to see large gains.

Ascending and Symmetrical Triangle Pattern

According to many technical traders, a triangle can occur as the range between peaks and troughs narrows. Triangles typically occur as prices encounter a support or resistance level that often constricts the price movement of the stock. There are varying forms of triangle patterns, much of which are focused on detecting breakout patterns.

A Symmetrical triangle pattern occurs when prices are making both lower highs and higher lows. An Ascending triangle pattern occurs when there are higher lows, but the highs are relatively at same price levels due largely to resistance. With continual support, the odds fair well that an upside breakout from an ascending triangle will occur. It is important to note that breakouts like these can often occur when there is an increase in volume. (FITX had 60 million in volume, average 20 million)



Peter Canellis explains:



This chart is classic!! We have two Ascending Triangle formations and a Symmetrical Triangle formation. The triangles can be depicted on the chart above: The Long Term Ascending Triangle (A,B,C) The Medium Term Ascending Triangle (H,E,B) The Short Term Symmetrical Triangle (D,F,G). What does all this mean? Since May 21st we have been walking up along the trend line. Slowly and methodically heavy accumulation during this period occurred. On August 25th, the pps broke through the upper trend line of the Short Term Symmetrical Triangle (D,F,G). On August 26th, the pps broke through the upper trend line of the Medium Term Ascending Triangle (H,E,B) on high volume of roughly 60 million shares. Lastly, on August 27th, the pps retraced to the trend line (.0626) and tested the support level in this area. With the announcement that the facility has been inspected, investors are extremely confident that licensing is around the corner. I expect that we will continue to trade on or above the trend line over the next several days as we await news. The Long Term Ascending Triangle dictates a breakout in pps sometime between now and October 15th. Once this breakout occurs, depending factors driving the price, the first PPS target will be .1850. If indeed licensing news is the driving force, I expect PPS to possibly test the .65 -.70 range.

http://seekingalpha.com/instablog/822743-rise51/3209565-cen-biotech-a-promise-delivered

$FITX