Stock: CNVRG
Company: Converge ICT Inc.
Support: 18.00
Resistance: 20.00

The stock spent much of Friday in the green but quickly erased its gains toward the latter half of the trading session. Nevertheless, it does not seem like CNVRG will correct its earlier run-up, as there is not much selling pressure.

Momentum indicators are flat, while directional indicators are supportive of sideways movement. RSI is healthy, but just a few points above neutral territory.

CNVRG is still trading at an elevated range relative to its price last month. All things considered, the stock is in a stable range for now.

Recommendation

Sell on rallies.

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