Here on this chart, we can see another bullish divergence on the cusp of a breakout.
About CETX Cemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in a wide range of commercial sectors such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems.cemtrex.com
Solid call. I saw this about 2 months back, what a call! I gabbed some at 1.12 last week. Any update on the chart since than? Thank you in advance.
Macdaddy7
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Your chart appears to have significant long-term price targets for CETX. As CETX is no longer the flavor of the day with Day Traders, do you still feel confident in the longer term targets, given the fairly significant decline from the recent high on 6/9 @ $3.11? I can't tell if it is just a rotation out of a high flyer or lack of confidence in their technology. Thank you.
keifer
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@Macdaddy7, Long term yes, short term we are in a correction and will look for support around a buck!
Acaroni
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I like the analysis. I went in with 21 shares at a limit price of $1.90. Let's see how far we go! Grateful for your work.
keifer
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@Acaroni,
Before entering any trade you need to have a set of rules.
The best entry is the 4hr TF by knowing the trend through the monthly, weekly, daily TF.
Watching the 4hr candles on pullbacks and measuring the bounce with a fib tool. You then wait to see if it retests this zone or makes a higher low. If it breaks structure then it is a short (same rules shorting but in reverse) if all conditions are meet with the retest and you see that it turns from bearish to bullish, then you enter your trade with a proper stop loss placed just below the retest of the support area.
Good Luck
keifer
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@Acaroni, Click this link and read the comment section for educational ideas for getting in and out of a position.