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Good Evening, CGAC is already getting lots of attention on social media after the sneak peak of its chart earlier today, so lets make this quick. I will say... its not often you see a chart set up like this combined with a LOW FLOAT of only 20Mil Shares. Over 300 of you wrote in asking for more details on the chart and what my expectations are...... so here we go: RSI - Moving up from oversold range, Very Bullish Price - Trending right at the support line of .02. Bullish MACD - Far under zero line, a very bullish indication Acc/Dist - At absolute bottom for the first time in months. So... the question of the day is..... how high can CGAC go? Well, last time it had a volume spike it moved up from .038 to .081 which is about a 113pct move. Back then the indicators where not even as bullish as they are right now... do you see why I am yelling CGAC CGAC? Trending near the bottom bollinger band, CGAC chart shows that it could clearly move up to its first level of resistance which is around .03 range about 50pct from current levels. Wold you complain about a 50pct trade? I would hope not since a measly $1K would have a value of $1.5K. But lets say it keeps going, and breaks out.... its next resistance level is not until the top bollinger band, around .04... 100pct from current levels making that 1k now 2k.... Seeing how these numbers work.... you should be prepared, given the fact that every trader out there who has seen CGAC bottom bounce chart will be fighting for entry as soon as the bell rings in the morning. IMO
Sincerely,
SSR
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