China TransInfo Technology Corp. (CTFO)

[adelevet]

Looking at the 1+year it seems like if we treat the $2.70 range as point of initial departure we get a clean cut Fibonacci-based step pattern (to $3.70 to $5.15 to $7.15 to $9.85). We are currently trading within this last range, after the last upward move to the next level at $13.65 was cut short, which compares to the period from May to July when we sat between the high 3s and low 5s.

Due to the considerable consolidation amid continued positive news there is obviously no reason why this shouldn't continue along the established pattern. Look for the breakout through the top of the trading range and into the teens next month, from which we should move to around 14 before limited retracing in anticipation of the yearly report. Thereafter expect this to move in steps through the mid-term ceiling around $26 towards the end of the summer.

Let's rock!