CNEH Update

I last posted about CNEH here. Since then, price rallied nicely, but then fell back to make a new trend low. I think price is near a short term bottom and could soon rally back up to $3.20-$4.20.

Notice that 5-waves have formed from the $5.68 top. The indicates that we should see an upward correction at this point followed by another trend low in the next few months. Right now, MACD divergence has formed, but is not yet confirmed. My plan is to sell a decent portion of my holdings on the anticipated rally. I would imagine it could rally to the 38.2% or 61.8% fibs around $3.20-$4.20.

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