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Go to Bigcharts.com .. type in ca:cmm Click on "advanced chart"
Change "time frame" to 2 years Frequency is daily click on "indicators" and under moving averages "sma" and enter 210
This will give you a 2 year chart of century and a 210 day (long term)
why 210 ? Because Stan Weinstein says so.
Note the first uptreand in early 2009 where we broke through the 210day moving ave and went to a high of 28 cents. The retracement takes the stock back to the long term 210day ma (ltma). Put a strait line joining the points (Trendline 1) and note the angle. (the end of the line is when the share price retraces to the ltma
The second wave up starts aroung november 2009 .. note that today Aug 9 2010 .. we have almost fully retraced back to the ltma .. now at 41 cents. Also note that the angle of(trendline 2) is sharper than (trendline 1).
By the time Q2 numbers are realeased .. and July production info the ltma will be at 44 cents Even if the share price doesnt actually touch the ltma it still can be considered a full retracement.
(Trendline 3) is just about to start .. strangly enough , the new uptrend will come just as cmm is getting its footing.
When the technicals mirror reality .. it is a very bullish signal.
Trendline 3 should be steeper than (trendline 2) and make a new high larger than the previous.
1 comment:
Technical Analysis for Century.
Go to Bigcharts.com .. type in ca:cmm Click on "advanced chart"
Change "time frame" to 2 years
Frequency is daily
click on "indicators" and under moving averages "sma" and enter 210
This will give you a 2 year chart of century and a 210 day (long term)
why 210 ? Because Stan Weinstein says so.
Note the first uptreand in early 2009 where we broke through the 210day moving ave and went to a high of 28 cents. The retracement takes the stock back to the long term 210day ma (ltma). Put a strait line joining the points (Trendline 1) and note the angle. (the end of the line is when the share price retraces to the ltma
The second wave up starts aroung november 2009 .. note that today Aug 9 2010 .. we have almost fully retraced back to the ltma .. now at 41 cents. Also note that the angle of(trendline 2) is sharper than (trendline 1).
By the time Q2 numbers are realeased .. and July production info the ltma will be at 44 cents
Even if the share price doesnt actually touch the ltma it still can be considered a full retracement.
(Trendline 3) is just about to start .. strangly enough , the new uptrend will come just as cmm is getting its footing.
When the technicals mirror reality .. it is a very bullish signal.
Trendline 3 should be steeper than (trendline 2) and make a new high larger than the previous.
Mike
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