Ok, it's been a few days since I did the initial Cub Price Chart Analysis. So lets jump in and see what has changed.
Mind you, we are looking at an hourly chart because there really isn't enough price data yet to look and more. Possibly the 4 hour chart, but I still feel it a stretch and we need more time.
As you can see looking at this hourly chart after the initial price pop on launch, price settle back in for a little discovery and found a bottom at roughly $3.50.
From there it rallied as high as $6 before sort of rounding lower. That is howo we have this rounded top formation you see from March 12 to current day.
That would be all well and fine, but price has broken that $3.50 level, which at this point was the clearest resemblance of a support level.
With price cracking below $3.50, which personally I was surprised happened, we know look to see what the next downside level is.
Based on the little price data we have that would have to be the opening low back on March 8. There is a little purple box on the left of the chart to mark the level.
That price is roughly $2.90 give or take a penny. That would be my next level to watch.
On the upside, price needs to breach $3.50 before we look for the next target higher.
There you have it, a simple price analysis on CUB. Nothing more, nothing less. My opinion on investing in cub have nothing to do with current price action, it is just analysis.
