CTIX Daily Chart
With the break of the prior coil upper-line, we see a flatter top developing which is morphing into an ascending triangle , but still part of a larger coil.
With the purple 20 Day MA still serving as support and now well above $1.89, which has changed into a support line. The share price is now coiling in a tight range just above support, closing above the 20MA
Also note the blue 50 MA is now at key support at $1.50, and its angle is closer to that of the 20 MA as the bullish rally pattern continues.
As we see the CTIX share price remains closer to testing the high #2 than the low #3. And with #3 being higher than #1 we see a classic 1:2 swing which favours an upside break-out and test of $2.47
We see some higher volume, but the CTIX share price not yet in rally, largely because of CTIX traders who have moved to another bio-tech for the time being pending a news release. Hopefully they will have the good news they expect any day now and return to support CTIX once again with posts and purchases.
Meanwhile things continue to go well for CTIX, with every day the potential blockbuster drug Kevetrin trial continues its Clinical Trial at the Harvard Cancer Centers a great day for CTIX shareholders, and Prurisol, itself a potentially huge winner moving closer to the start of the more advance Proof of Concept trial.
We do seem a bit overdue for a CTIX news PR, with several potential items possible. I don't like to guess at the timing of news, but my crystal ball is flashing SOON!
The CTIX chart remains in rally mode, and on balance I favour a continuation of this strong looking pattern and break above the prior high to test resistance over a test of key support.
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