CSR EOD Daily Chart Update 05/11/2015.

Revisiting the price behaviour of CSR after yesterday’s JUMP ACROSS THE CREEK (highlighted with Green dashed line) which stalled at the supply line of the down trending channel. We have seen the SCOUT BOY being reluctant to revisit the creek today. Will he have enough power to stage a breakout over the next few trading days ?

An inside day, with bulls gaining the upper hand by the close, only by just today. If we see a higher high ( $3.15 or above) over the next few trading sessions that may suggest a renewed buying by bulls, prior to the next anticipated MARK UP PHASE. Zone of $3.20-$3.30 is a must beat level for a new mark up phase (BULL RUN) to start.

SUPPORT @ $2.845 must also hold, if this JAC (highlighted with dashed Green horizontal line)of yesterday (04/11/2015) was genuine.

OBV at the bottom window also broken out today, suggesting an accumulation may be about to end.

Tentative Bullish Price Objective taken from a Point & Figure chart ( not active as of this writing, if CSR trades above $3.15 will then be activated) is also @ $4.59.

Disclosure : Held

csrjac

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