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Stalking the pullback in CBAK Energy Technology (CBAK)

Since finding a low of $1.20 in November 2016, CBAK Energy Technology $CBAK has been consolidating roughly between that low and 2.00. 

CBAK Daily Chart

(click to enlarge)

Bullish Breakout:
- The daily chart shows that price finally broke above key resistance factors. 
- CBAK price action broke the 2.00 range resistance as well as a falling trendline resistance.
- We should also note that there was a bullish slingshot before the breakout. (When price breaks above key moving averages and then bounces off of them as support.)
- Price has since retreated back below 2.00 after failing to tag 2.40. 
- We might see some more downside, but I think if price is developing a bottom, it will find support at or above 1.50.
- Also, the RSI should hold above 40, which would indicates maintenance of bullish momentum.