CTT - 329.25p .. I have started with its 'historical' chart, which covers an 18 yr period, and I have used its 'MONTHLY' movement to remove some of the 'noise' .. the most dominant feature, is a well established 6 yr 'uptrend channel', which I have highlighted with the heavier lines. The price has recently started to rise strongly from the floor of this channel, and with its MONTHLY indicators rising sharply, this suggests further upward movement towards the 'channel ceiling' during the forthcoming months.
Zooming into its 3 yr chart, for its short term movement, I see a range of around 320.00p - 360.00p .. the floor & ceiling of which, provides resistance for a rising price, and support for a falling price .. so having recently entered this range, the 320.00p floor will now have hopefully reversed to a support level, and will provide a platform for the price to move on up through the range to attack the 360.00p ceiling.
Using my 'guidelines', the 'key levels' that will have an influence upon the price movement within this 'range', will be 325.00p & 350.00p, and their 337.50p mid point level .. once again, each level providing resistance for the rising 'buying price', and support for a falling 'selling price'.
If and when it breaks free from this range, its next target will be 375.00p .. in order to achieve this target, and leave this present range behind .. the price would need to 'close' above the 362.60p mid point level.
Overall, at the present time, everything suggests that there is more upside to come during the forthcoming months.
