CTSI is currently trading just above its long-term support. Although it may be tempting to show a breakout from the current structure, I believe it will continue in its accumulation phase for the short-term. This is due to the lack of stepped formation in its recent breakdown of price (instead a strong red candle formed as seen on the chart).
The stepped formation with long wicks would be a good signal for a CTSI breakout (as seen in previous breakouts). A great entry point would be between the 0.59 - 0.61 range. A good entry would be between 0.61 - 0.65. Remember, the idea is cancelled if a daily candle closes below the support.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Always DYOR and please feel free to leave a comment with your thoughts!
The stepped formation with long wicks would be a good signal for a CTSI breakout (as seen in previous breakouts). A great entry point would be between the 0.59 - 0.61 range. A good entry would be between 0.61 - 0.65. Remember, the idea is cancelled if a daily candle closes below the support.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Always DYOR and please feel free to leave a comment with your thoughts!