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ASX stock Analysis CPH
Time Frame : Daily Chart
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Watching for Buy Entry Setup
CPH looks good for a rally but does have some work to do before buyers are convinced to dive into the action. We can see from the Depth that there is a lot of sellers on the offer holding CPH down so price could just as easily edge lower through 0.175. There has been some talk on twitter that it is ready to fly, but they are probably ‘talking their book’ (have a long position) and trying to convince others to jump in and buy. In times like this, we always need to see some confirmation that price is on the rise and not just buy off support before it is proven. Watching now for a higher low to build for evidence that we will be on the right side of the action.
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Stock : ASX stock CPH
Current Price : 0.205
Status : On watch for a move above 0.25
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