CSE Global has failed to break the 20D MA and 61.8% Fibonacci Resistance at about $0.98. This turning down also shows the start of corrective Elliott Wave C. Next immediate support is $0.84 (50% FR) followed by $0.70 (38.2% FR).
CSE Global is showing a Elliott Wave chart pattern. It looks like starting of a Elliott Wave B after finding a support at $0.86 which is a 61.8% Fibonacci Retracement Level. Currently CSE Global is testing an immediate resistance at about $0.90 (20D and 200D MA). If this resistance is cleared, it is confirmed that Elliott Wave B is formed and the next resistance is about $1.00 (50D MA and 78.6% Fibonacci Retracement Level). This $1.00 (or somewhere near the up trend support turned resistance) may be the starting point of Elliott Wave C.
CSE Global has broken an up trend support and currently trading below 20D and 50D MA. The candlestick shows a potential formation of a Morning Star but need to wait for the confirmation of next trading day. Next immediate support is at $0.86 which is a 200D MA support and also 61.8% Fibonacci Retracement Level. The stock has to go above $1.00 to keep the up trend in tact.
