Broke out the wedge:
Since March 2021 the price action of CELR was moving in a falling wedge pattern. Recently after getting bounced on 20th of July it has broken out the resistance of this falling wedge . Now the priceline is moving down to re-test the previous resistance as support. Once it will confirm this break out then the next move can be up to the tail of this wedge pattern which is approximately at $0.09.
Different support and resistance levels:
In the month of March 2021, when the price action started moving down then it broke down several support levels. Now all these support levels are working as resistance levels for the price action of Celr. Recently the priceline has bounced from $0.02 support level and broke out the next assistance of 3 cents. Now it is retesting the previous resistance and in case of a successful re-test it can move up to break out the next resistance levels. We have the next resistance levels $0.04, $0. 05 , $0.06, $0.07, $0.08 and $0.095 respectively.
Big harmonic move:
On the weekly time frame chart, the price action has formed the final leg of the bullish Gartley pattern. There are also 50 simple moving average support in the buying zone and 100 SMA below this level. After completion of the final leg the price action is moved above the buying zone.
Conclusion:
Even though there are so many resistance levels above the price action, however, after the break out from the wedge pattern if the priceline will move to hit the target of this wedge which is in fact the tail of the wedge then it can easily break out all the resistance level and reach the final resistance at $0.095.
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