CMG Going, Going, Guac
RSI sitting at 77 right now. Possible RSI support around 61.60's but it's iffy. Not a lot of structure to the RSI right now.
Bottom trendline formed. Possible ascending wedge up top with a fake out. Could pop a lil more before this starts to slide.
MACD way above normal. Normal was around 15 at highs. Currently 59. Previous all time high was in the 30's. Last few times MACD has been even close to this high we've seen at least and $80-$100 pull back. In 2015-2016 (before E coli in Feb 2016) it saw a $300 pull back between beginning of August and Jan.
Also, it appears that CMG really likes to pop back up after pull backs 1-2 times before any major dumps. You'll notice this patter for most dumps of $60+ (Corona dump excluded).
Look back to around 2012's:
Bottom trendline formed. Possible ascending wedge up top with a fake out. Could pop a lil more before this starts to slide.
MACD way above normal. Normal was around 15 at highs. Currently 59. Previous all time high was in the 30's. Last few times MACD has been even close to this high we've seen at least and $80-$100 pull back. In 2015-2016 (before E coli in Feb 2016) it saw a $300 pull back between beginning of August and Jan.
Also, it appears that CMG really likes to pop back up after pull backs 1-2 times before any major dumps. You'll notice this patter for most dumps of $60+ (Corona dump excluded).
Look back to around 2012's:
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