CEY - 16.00p ... The major historical barrier to overcome, is the 17.00p level, and although it is very close, I reckon that the price may continue to consolidate for a while yet, between 14.75p - 16.50p, until it has built up sufiicient strength to make a breakout attempt.
Having said that, at the end of last week, the price did start rising, and broke through a couple of downtrend lines, so it may well think its strong enough now, and may be considering trying for a breakout attempt at the beginning of the week, but its a bit early to say that yet.
The time to watch it very closely, is when 'buys' start appearing above 16.50p, as this would be the first signal .. if the price succesfully 'closes' above 16.50p, this would confirm that the price is going to try for the breakout.
Again, its too early to say whether a breakout is at all achievable, but if it can achieve a confirmed breakout, then I reckon it will be quickly obvious to everyone, cos I would expect it to be carried out with a sharp move and increasing volume ... I am still closely following its progress with great interest.
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