CERP Chart.......riding MA(10) support line @ 0.04.....
If MA(10) support breaks MA(50) is fractionally below that level......MA(50) is a major moving average.....I would expect it to hold......
If MA(50) @ 0.04 support breaks CERP will pull back to MA(20) @ 0.03.......as long as CERP stays above MA(20), which is also the middle Bollinger Band, the bullish uptrend should continue......
Look @ the end of Jan. pullback......CERP bounced sharply off MA(20)......once a stock trades above the Middle BB it is in the Upper Bb Bullish Channel......
Stocks that trade below the Middle BB are in the Bearish Bb Channel.......in simple terms this means stocks go up above MA(20) & stocks drop below MA(20).....
CERP is @ a major crossroads......3 solid support levels are lined up.....MA(10) support is already being tested today.........
If CERP can stay above these MA's it will head higher......if support breaks it will drop......there's been declining vol. since the initial pullback......
That's a good sign the seller's are starting to tire.......what I'd like to see is increased Vol. to push above support & make a run @ retesting Upper BB resistance @ 0.06......
CERP on judgement day radar......(on a bright note....MA(10) golden crossed MA(50)....)..$$$
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