Ceapro Inc. off the 52-week high

Sep 19th, 2016 – 1 Comment

Dealing with a downtrend since July.


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Lou Schizas is an equities analyst, investor, entrepreneur, professor and television and radio personality – and a true believer in the happiness-inspiring powers of capitalism.


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CZO LOGO

Hey Lou,

You made comments about ceapro -what do u think now !!!!…

u miss’d big on this one! I didnt

Jennifer

 

Hey Jennifer,

I get that you are enjoying your gains and congratulations on the get but how is it that I didn’t hear from you when Ceapro Inc (CZO TSXV) was down close to 50% after you asked me about it on May 15, 2015? When I examined the case at that time the shares were trading for $0.38 and the research indicated that the stock was struggling after breaking down below the 50 and 200-day moving averages.

At that time you wanted to know what I thought. My analysis was that  CZO was going to trend lower – which it did all the way down to $0.20 and stayed there for almost six months. But I didn’t hear any “that a boy – you got it right”. Now that CZO has run hard – I get the I told you so act.

Lets take a look at the charts and see if I can get it right again.

 

 

 

CZO

The three-year chart indicates that CZO has taken a breather after hitting a 52-week high of $2.47 in July of 2016. The MACD and the RSI generated sell signals as the stock topped out and shares are now trading below the 50-day moving average.

 

 

 

 

 

 

 

 

CZO2

The six-month chart indicates that the 50-day moving average is now providing resistance to a new leg up. Make note of the downtrend line that will also provide resistance to buyer’s dreams. I would advise caution at this juncture. If CZO can’t hold support near $1.80 it could retest support at $1.20.

 

Best I got – lets see who is right.

 

Next time I’ll investigate the details surrounding EnerVest Diversified Income Trust  (EIT.UN TSX) for Dave.

 

Make it a profitable day and happy capitalism!

Categories: Agricultural Biotech
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