CYCC 7% Short Float / strong support - accumulating / Fill Gap
CCYC has been accumulating for a month and have started to make higher lows. PR this month and conference has helped with visibility. This week pop helpful to put it back on radar. Low risk/Great Rewards to fill gap
RSI / MACD is not overbought and has turn positive zone. Small pop at 2.13 which hit 50dma 1.97. I think this will start to accumulate as long as there is a strong support level at 1.70 area. Once it breaks above 1.97 -- I think it will start to trend higher. Short Float 7.67% which will help price move higher.
Idea:
1. Buy Stop above 2.15 (needs volume)..
or
2. Start accumulating within 1.67 - 1.75 area. SL at 1.53
RSI / MACD is not overbought and has turn positive zone. Small pop at 2.13 which hit 50dma 1.97. I think this will start to accumulate as long as there is a strong support level at 1.70 area. Once it breaks above 1.97 -- I think it will start to trend higher. Short Float 7.67% which will help price move higher.
Idea:
1. Buy Stop above 2.15 (needs volume)..
or
2. Start accumulating within 1.67 - 1.75 area. SL at 1.53
Comment:
Today had a good pop above 50ma.