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See it for yourself and make your own judgement.
Support/Resistance:
The chart has gone down to $0.535 which is just below the support of the uptrend parallel lines. The major support will be at $0.46 and the major resistance will be at $0.72. I think that there might be a big movement in the next two weeks.
Indicators:
Looking at the MACD, RSI and Stochastic, the three indicators are going down. This may mean that selling momentum may be building up.
My Target Price:
I might be selling most of my lots at around $0.70.
Please note that I am using TA to position myself for long term investing and not to predict the direction of the market.
2 comments:
Chanced upon your blog. I like CIT as well. My take is to wait and exit at 70/71cts.
Applying Dow Theory (3-stage cycle) to your weekly chart, the first divergence occurred at April. Brief consolidation, then the last leg. By checking the daily, the first divergence was end October and now is consolidation. So the Fibo for daily and weekly coincide at 62/63cts and 70/71cts. Enjoy!
Hi eemin.the.ifa,
Thank for visiting my blog.
Regards,
Freedom Achiever
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