Technical Update - CD Projekt shooting higher. Can it keep going?
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Back in August CD Projekt share price formed a Doji morning pattern on the weekly chart indicating bottom and reversal. Divergence on RSI supported the reversal scenario.
That has been followed by a breakout of the falling wedge formed over the summer building an uptrend.
Spiking higher today right after the open CD Projekt has almost tested the resistance at around 125. If CD Projekt ends the day drawing a bearish candle a correction down to around 100 is
If CD Projekt can break above 125.40 there is room up to the low end of the big consolidation area at 151 – see weekly chart.
A close below 96.60 will demolish this bullish picture
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