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
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