Thread: Citadel Broadcasting Corp. - CTDB

The weekly chart of CTDB is a good example of a bearish chart that reveals buying opportunities in the coming days.

On large volume for the week, CTDB crashed its 13-week moving average decisively, supported by a bad-looking RSI.

Eighteen months of RSI readings show bearish price action. Typically, a bearish series of RSI readings will be replete with oversold readings below RSI(30) and peaks stalling at RSI(60). CTDB is that chart!

Bottom fishing at the 0.025 level might give us a bump, but keep those stops close at this level.

Happy trading and see you in the chat room. Allow my decades of trading and investing enter your thinking process.

DDD

The weekly chart of CTDB shows this stock teetering on its all-time low. The brave will go long on this stock for a snap-back. Keep an eye on volume in the morning. If you see a traders comin in like a crowd after a new shipment of chicken gizzards, get in fast. But be careful of a sell-off if buying is weak. Tough call on this play.

See you in the chat room for fun and friends.

Uncle Del