CSTM – Bullish Above 11.45

CSTN (Constellium NV), The CSTM Chart has consolidated for the past couple of months and is now Bullish above $11.45. Last week CSTM broke out and closed above a double top after finding support from the 34-EMA and 50-SMA. On a 2-Day chart of CSTM, you can see the Ascending Triangle and the Bullish Engulf.

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►Train Your Eyes

CSTM • Trend • Ascending Triangle •Rising 34-EMA • Bullish Engulf • (Hit: Look at a 2-day chart)

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► Eyes On The Market

Friday ended on a Bullish note with the SPY printing a Bullish J-Hook Continuation pattern. (The 2-Day chart printed a Bullish Morning Star). Price vs-Line and T-Line Bands are bullish, price vs. price is bullish, price vs. V-Stop is bullish. I would say the market is bullish. Below $255.60 or about the T-Line would bring the VIX up a little. The VIX closed below the Lower T-Line Band and below the VStop but support and bottom construction are still evident.

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Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.