One of the hottest stock in the market CNMC had a gap down on wednesday as gold reached a 3 months low. That gap down might have scare traders out as people were rushing for the exit.
From the chart, we can see that it has broken the uptrend line after the gap down and is now currently below the 50ma too. We’re not optimistic on CNMC for now and might see a pullback to 0.50 the horizontal support. From there we shall see where gold price is and if 50 cents holds too.