Possible resurgence for CSU

3 ביוני 2019

CSU has been trading sideways for the better part of two and a half months with it recently showing a bearish trend. The stock experienced a sharp drop on the 23rd and continued to drop to about 3.59 per share on May 28th. The circled point is a buy signal that was triggered on the macd indicator, but along with that, the histogram shows the stock still trading on the bearish side. It is probably smart to wait until the histogram switches sides before buying into this position, as it is not a confirmed breakout. As seen on the graph, the large spike occurred on the 31st of March following the news that the company is looking to acquire senior living communities. As the RSI also shows a positive trend, I can see this stock rise to about 4.40 per share within the next couple of days. At this moment it is hard to say whether it is gearing up to make a long term run or not, but if within the next week we see it break the 4.40 mark, it has the potential to break out of its sideways trend.