Reference Chart – CPG

October 2, 2013 at 10:39 am Leave a comment

Previously, Last Sept 25 we highlighted the importance of a RSI wall breakout. CPG made an untog then.
https://spyfrat.wordpress.com/2013/09/25/reference-for-smp-cpg/

http://www.stockmarketpilipinas.com/thread-63-page-387.html

Updated Chart shows CPG filled the gap on its pullback after the untog happened. Now its forming a nice bullish flag and might head for a pattern breakout. However im watching the rsi wall as it carries more weight (me thinks). On its weekly chart, CPG’s another hurdle is its weekly 50ma between 1.71-1.72
Major note: I dont use volume for confirmation re pattern breaks, i rely solely on rsi. simply because i dont know how to use volume confirmation and above all rsi dont lie.

cpgdaily10022013amsession

Further readings for flags and chart patterns (a must read for new investors and ass-like veterans) at http://chartpatterns.com/

flagsandpenants

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Entry filed under: Phisix's Closet (PSEi). Tags: , , , , , .

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