As I go through my cannabis and crypto related stock watchlists, I came across with Creso Pharma (CPH.ASX) which may provide some useful educational analysis. As always, everything is done for that purpose(education) but nothing else here.Textbook perfect educational analysis may best describe it.
I have marked past as well as current zone of interests with CPH.ASX weekly chart and have it in my watchlist going forward. I won’t make descriptive analysis of the past, since markings should be clear as a bell not requiring any description.
Will we see wave impulse wave 5 ? If we did, what would be the wave 4 behaviour which we may potentially expect to see at present in wave 4 ?
Prior corrections (trading ranges which I have marked) as well as impulse moves may offer some clues to the potential length & duration of the current corrective period as well as the anticipated next potential impulse move.
Worthwhile keeping an eye on RSI at the bottom also. I would like to see RSI above 50 level during the formation of the current anticipated trading range. Analysis continues with CPH.ASX….
Disclosure : I have no open position with CPH.ASX at the time of this post.
FREE chart is courtesy of tradingview.com
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