The trading range is getting narrower for CityDev. A Descending Triangle is formed on CityDev and very close to the breakout. The previous post on the analysis on watching this $10.00 critical support is still valid. Short term price target of breaking down of this Descending Triangle is $8.50. 200D MA is trending down which is also a bearish sign. Base on the chart pattern, I don’t know how long the SUPERMAN can hold on this $10.00 support. So, it is better to play safe and RUN! Anyway, I am already in Short Position! 😉
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Yeah, since it is so narrow, better to exit.
CityDev tried a few times to break this $10.00 resistance but failed. Seems that bull has really exhausted.. Prepare for the big move – DOWN!