$CERS is one my “chase” stock from Monday and I’m still riding the rally on this one. Price action is now near the previous high of $5.43. A breakout of this resistance from here without any consolidation will form a left-hand cup & handle breakout pattern. Yes, you’ve heard it right. I don’t know if there is such a thing as left-hand cup & handle pattern in the stock chart book; if not, then I’ve just invented one.
Take a look at the chart below:
Momentum is still strong with momentum indicators still point up and not yet at the over-bought level yet.
Fundamental speaking, $CERS is already selling their blood “cleaning” system outside U.S. It is currently working with US FDA to gain approval for sales here. As the sales start to grow outside US with the possibility of gaining US market in a year or two, the potential for $CERS will show in the price action sooner if not later.
Depending on price action in the near future, I’m still debating if I want to keep this one as a position trade.
My 2 cents.