CMT CHART ANALYSIS ( October 30.2009)

Figure 1. CMT Price Chart

 (Note: double click image to enlarge)

Base from this chart we can clearly see that CMT has broken its support trend line 7 periods ago. It is also below our moving average lines. It is also below our Fibonacci 61.8% line. Base from these three indications we can already tell that CMT is bearish.

Figure 2. Momentum, RSI, %R, and MACD readings

(Note: double click image to enlarge)

Again upon farther analyzing CMT we can also clearly see that MACD and RSI all indicates that CMT is currently bearish. The good thing is its downward momentum is slowing down, and the %R and the RSI all indicates that CMT is oversold and ready to be taken. But as long as MACD did not confirmed that CMT is a buy, i will not gamble on it. We have to minimize the risk. Take note CMT made a nice swing low already but for me this is not convincing enough because it was not able to break the Fibonacci 61.8% resistance line. For now wait if CMT will be able to show some more bullishness in the days to come..