Your instinct did well ,CBD,about 3.80
holding, the small dip the next day to pivot at 3.74 was incidental. My instinct was waiting for 3.60 area.
Now, after today, we're looking at a somewhat changed picture, but not a changed game.
It is troubling to see the sudden 1 minute sell of 117.8K shares at 3:15 to plunge price from 4.44 to 4.02.
It distorts the picture a bit, so that I have to look away from that and watch the ongoing pullback, to retest the support zones. This movement is still developing,in both directions.
Newsletter promo pump needs to be discerned about, as to whether it adds any realness to the price action or just distorts it for a day or two. The price action pattern was working around the 4 dollar area. and IF the big financial powers intend to keep it down there for longer, they will take it back down there this week, and that solves their momentary problem with the newsletter pump.
I am impressed with the price controlling Power's ability to stop and cap the rally at precisely 4.48. That says a lot about the game going on. Still under technical control.
I suspect the real rally pattern, the one that will eventually climb to target the 4.60 and 4.90 area is not ready to happen yet. the greater target zone in the mid 5's is not ready yet.
The downwave pattern to retest the 3.80-3.70-3.60 retrace zone, might be finished now, or it might Not be.
Lets see what happens from here.
and IF this does become a real rally pattern to the real technical targets....we should see this 4.25 area hold support strong and begin another rally to hit the weekly 50 ma around 4.64 area. If that happens in the next few days I will change my bias to an upwave ongoing, and mark the pivot low at 3.74. Rally target zone 4.74. rally retrace zone at 4.24 area. 50% Fib retrace from 3.33 to 4.73 is 4 dollar area.
various targets and patterns taking shape some more.ongoing.
