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 $0.09+.
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 3 key lines of potential support:
- 50-Day Simple Moving Average
- 100-Day Simple Moving Average
- 200-Day Simple Moving Average
Why is this important? When a profile trades above these 3 lines, traders may gain confidence from these levels holding as potential support for a continued vertical move.
RSI: 61.70 In an uptrend or bull market, the RSI tends to remain in the 40 to 90 range with the 40-50 zone acting as support.
William %R: -31 A Williams %R cross above -50 signals that prices are trading in the upper half of their high-low range for the given look-back period (Bullish)
BARCHART is reporting CSOC as a “STRONG BUY” based on overall technical indicators https://www.barchart.com/stocks/quotes/CSOC/overview
Now, I’m not saying this CSOC is going soaring to that level today, but you need to be aware of the upside potential.
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