CSR breaking to the upside! | Michael Gable | Finance News Network

CSR breaking to the upside!

by Michael Gable

CSR formed a flag formation after having rallied strongly from about $1.20 to $3.80. This formation is just a continuation pattern and the next likely move is to resume the uptrend at some point. We have been keeping an eye on this and our patience has been rewarded with a nice breakout to the upside, hence we are happy to buy CSR now. The catalyst for the break is most likely the expectation that interest rates could head lower again. The charts indicate an upside target close to $4.50.



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