Wednesday, May 26, 2010 4:07:52 AM
for Wednesday, May 26, 2010
Short term momentum put in "positive divergences" on the hourly/daily today.
The S&P 500, DJIA and CCTC, all clawed their way up at the close on Tuesday. CCTC closed at 0.087c, after making a "NEW LOWER" low of 0.077c, setting up the possibility for the next move up, which IMO, could be an "Impulse move UP !
I was very impressed with the stocks action, considering the markets selling pressure yesterday.
http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p41544751386
If the approaching Up Trend is an "Impulse Move", it should happen with NEWS being the catalyst, and volume will be massive !!! Rather than the mere 300,000 traded each hour, you will see 5 or, 10 million traded each hour.
The last "Impulse Move" took place on February 17th and 18th.
The 1st and 2nd waves formed over 3-days, February 10,11 and 12.
We'll have to wait and see how it plays out.
http://barchart.com/chart.php?sym=CCTC&style=technical&p=DO&d=L&sd=&ed=&size=M&log=0&t=BAR&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&indicators=SMA%2820%2C16711680%29%3BMFI%2814%2C255%2C100%2C39168%2C16711680%29%3BSSTO%2814%2C3%2C16763904%2C6724095%29&chartindicator_1_code=SMA&chartindicator_1_param_0=20&chartindicator_1_param_1=16711680&chartindicator_2_code=MFI&chartindicator_2_param_0=14&chartindicator_2_param_1=255&chartindicator_2_param_2=100&chartindicator_2_param_3=39168&chartindicator_2_param_4=16711680&chartindicator_3_code=SSTO&chartindicator_3_param_0=14&chartindicator_3_param_1=3&chartindicator_3_param_2=16763904&chartindicator_3_param_3=6724095&addindicator=&submitted=1&fpage=&txtDate=&x=39&y=8
One final note:
I am focused on the 0.075c low that was established on January 20th, an important support level for the stock. As long as that price does not get broken, I am confident that we have now seen the LOW that was made yesterday at 0.077c, and that the stock can now move up!!
http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p21504802851
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