CMSB

Sector: Construction Materials

Analyzed on 08/10/2021
 

 

Following up from our previous analysis, CMSB has formed a higher low in the short-term timeframe. Its EMA25/50 are also moving sideways, after ending its downtrend in mid-August. If we look closer, we can observe CMSB has formed a ‘Three White Soldiers’ candlestick pattern which suggests bullish in the market sentiment. However, Three White Soldiers can also appear during periods of consolidation, which is an easy way to get trapped in a continuation of the existing trend rather than a reversal. One of the key things to watch is the volume supporting the formation of three white soldiers. The trading volume seems low as compared to the average. 

 

The significant move higher in share price could also reach key resistance levels where the stock could experience consolidation before continuing to move higher. Hence, interested traders could monitor and strategize accordingly. 

 

Reason to monitor: Three white soldiers candlestick pattern

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