It is quite amazing that CTIC has had such a huge run from a beginning price of about .05 cents. It has been an astounding run. I was not smart enough to highlight it at .05, but that is a mute point now. The fact is that CTIC has shown a huge sign of strength in the run from .05 to slightly above 2.00.
But if you look at the chart carefully, you can see that CTIC has a certain trading personality and unique trading style that is important to take note of.
It tends to run very fast like a sprinter for 2 to 3 days at most, but then goes into ‘hibernation mode’ and starts trading sideways to flat for a month, sometimes longer before the next big move.
Certainly the strong upward bias in the general stock market is helping CTIC along the way. The bullish environment is keeping a lot of uptrends going in many stocks that I am watching.
So this upward sprinting type of stock personality we see in CTIC is important to note. Because what it says to me is that IF we do get a continuation breakout right now in CTIC, I would not expect it to last any longer than 1 to 2 days. So it would be very hard to justify holding something like this more than a day or two.
CTIC has managed to briefly poke above the downtrend since June 1st and volume was starting to pour in today.
The price has extended all the way out into the apex of the symmetrical triangle on CTIC and that could be a cause for concern as it may diminish any upside breakout energy.
I think CTIC is worth watching closely the next few days. CTIC needs to start trading above 1.70 as a signal that it may be ready to start a 1 or 2 day run.