Here is what I believe is happening.
CRNT 0.00%is in a cup and handle pattern, with the initial handle under formation.
1. Its currently short term over sold
2. Initial Handle formation is in the process. It may be up to 30% of the cup and take support at 2.60.
3. Because of heavy bearish volume today and over the past few days, I believe further drop in price may be possible and the stock could find support at a around 2.5 - 2.56.
- cheers
Scorp
CRNT 0.00%is in a cup and handle pattern, with the initial handle under formation.
1. Its currently short term over sold
2. Initial Handle formation is in the process. It may be up to 30% of the cup and take support at 2.60.
3. Because of heavy bearish volume today and over the past few days, I believe further drop in price may be possible and the stock could find support at a around 2.5 - 2.56.
- cheers
Scorp