Do you see what I see? After that recent high just over $0.05 we saw at the beginning of this week, CSOC ended up pulling back to the $0.035-0.045 range.
Could there be strong potential support at that level?
At no point since that burst to $0.05+ has CSOC dropped below $0.035.
If potential support continues to grow, it could fuel a possible bounce back up the charts, and as we saw recently, CSOC has traded as high as $0.05+.
Now, I’m not saying this profile is going soaring to that level today, but you need to be aware of the upside potential.
As you can see above (chart), higher HIGHS, higher LOWS, A bull trend is identified by a series of rallies where each rally exceeds the highest point of the previous rally. The decline between rallies ends above the lowest point of the previous decline. A series of successive higher highs and higher lows.
At this moment, CSOC is trading above 1 key line of potential support:
- 20-Day Simple Moving Average
Why is this important? When a profile trades abovr this line, traders may gain confidence from these levels holding as potential support for a continued vertical move.
BARCHART is reporting CSOC as a “STRONG BUY” based on overall technical indicators https://www.barchart.com/stocks/quotes/CSOC/overview
Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with a licensed securities professional before purchasing or selling any securities of companies profiled or discussed in our releases. It is possible that a viewers entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed in a release or on our website unless you can afford to lose your entire investment. We encourage viewers to invest carefully and read the investor issuer information available at the web sites of the SEC. The SEC has launched an investor-focused website to help you invest wisely and avoid fraud at www.investor.gov