CCJ: Technical Analysis | Charts – May 1, 2020
Summary: A new low below 6.52 would indicate a bounce may be over. However, expect more upwards movement for the short term while price remains above 6.52.
For the short term, at least CCJ has found a low. Volume remains heavy. Although volume declined for April, the decline is slight.
RSI is neutral. There is room for price to rise or fall further.
A decline in volume and range for this bounce suggests some weakness. This should be viewed with suspicion.
Conditions are overbought, but divergence is weak. At this stage, there is no bearish reversal signal; it would be safest to assume this upwards trend remains intact, but weakness in volume and range suggests it may not continue for much longer.
Published @ 12:00 p.m. EST on May 3, 2020.
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