CTD is a great example of stocks grinding higher but with plenty of volatility within the advance – in this case the stock shrugs of an ongoing poor sector backdrop courtesy of the Delta Variant:
- On 2 occasions the stock has failed to follow through on breaks above $21 and $22 respectively, it feels like the same is close at hand, this time towards $23-24.
- On 2 occasions the 25-30% pullback fell short of our optimum technical target as buyers stepped up for the “cheap” stock.
MM remains bullish CTD short-term
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