So about a week ago, I posted a breakout forming on the $CYCU charts. That went on to run from $1.29 to $1.97, and the structure it's forming right now is conceptually almost identical.
From a technical perspective, one key thing it has going for it now that it didn't have last time is now **it isn't a first breakout attempt anymore.** Notionally that means a path is cut, and it **should get a gravity-assist on the way back up.** And that's pretty much what the charts are showing.
Big picture, after the run up to $1.97 and subsequent retrace back toward $1.05, the bleeding stopped naturally, based for a minute, and now **appears to be reclaiming levels one by one** a bit more easily than the first time.
Technically, $CYCU looks really constructive again. **On the 5 and 15 minute charts**, price has unceremoniously come off the $1.05 low, curled hard, and r**eclaimed the short-term EMA's.** It was pressing back into the prior pivot zone of $1.17 - $1.23, trended right through, and made a nice dip back down to $1.17 **where it has held solid,** suggesting that pivot zone is now support and a launchpad from which to make the next high.
**$1.23 is the meaningful gate here.** This time, it really just needs to decisively clear that supply zone for the chart to open up.
I don't call targets but if I had to guess where the first resistance will appear for some profit taking it would be **in the high $1.30's/low $1.40's.** Cut through that static **with momentum** and **you might get another bit of friction in the $1.80's** but I don't see any real pushback until it sees that **$1.97 - $2.00 area again.** **Extreme volume** could run it higher into the open sky above $2.00 but I don't generally speculate after I run out of solid levels. **I just watch the price action** and trade my own trade.
Excited to see this one setting up again. It's been a great trader and I'd love to see it make an epic penny run like some others have done recently.
**GLTA and G\*d Save Retail!**