CNVRG has been on an extended uptrend that pushed it above the 50-d and 100-d moving averages and to an all-time high of 23.45 intra-day. The indicators are uniformly bullish with increasing momentum. Furthermore, the RSI still has some upward bias despite being propelled deep in the overbought territories. The bullish signals and momentum suggest the CNVRG would continue trading higher over the next couple of days. However, some investors would likely start taking profits soon due to elevated prices.

Sell on rallies

Weekly target: 23.45
Support: 22.65 / 21.70
Resistance: 23.45

Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.

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