That's one of the problems with expecting high accuracy. A pattern may continue, or it may not. Cruising outside of a Bollinger band is not destiny, it's just price action.
Yes the B bands have been good lately, but what about 5/22/12 that closed at .60 well above the B band? The rally continued right to form a resistance line at .77 and the B band just followed the sp up.
Identical thing happened previously in 11/09/11. CTIX closed outside the B Band at .49, then continued to exactly .77 on 11/17/11 yet again, with the B band following.
But once that resistance line was formed at .77, it proved more significant 5/22/12 - 6/7/12, and yet again 9/11 - 9/21 when we had that big volume battle at that centred on .77 for 8 days that preceded the break-out to the current price level.
Overall I like the support, resistance and trend lines better. They've been better indicators since the uptrend began in August. They are the most likely battle areas with a low volume stock like CTIX.
Naturally there is a bit of push back at resistance lines as well, just as $1 was a battle zone for two months.
CTIX only paused a day at 1.11 so more likely to pause a bit at the next key one at 1.18, and perhaps come down to test 1.11. We're looking at a double break-out in two days here. But I don't expect $1 as the trend line is crossing $1 today and we've had good news and new buyers arriving as evidence the volume, reads and new posters.
