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Tuesday, 28 May 2013

CERP on breakout watch/trend play

CERP has been making some higher lows and higher highs since the 1st of April successfully testing the rising trend line to create the rising channel. Last Thursday saw a possible reversal candle formation (bullish harami) off the 50dma, and today we found confirmation of the rising channel and reversal. Looking at a target of .05 - .055 and possible breakout on any further developments from the Co. concerning possible product placement.
 
News today suggests we may be getting updates in the near future. Here's the link -   http://ih.advfn.com/p.php?pid=nmona&article=57743963&symbol=CERP 
 
 
"Cereplast, Inc. (OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that the Cereplast Compostable blown film series has received both DIN CERTCO and Vinçotte certifications for meeting EN 13432, the European standard for industrial compostability."
 
The hourly chart here supports the bullish reversal as well, always be ready for the support test though at roughly .025
 
 
Good luck and Great Trading to all and a big welcome to all new subscribers
 
 
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