Please note that previously posted resistance levels from the Barchart.com are adjusted daily and are following the closing price at the end of the day.

http://www.barchart.com/cheatsheet.php?sym=CLL.TO

Based on the strong buying action and volume, which seams ignore CLL weak financial situation, I enter the full position last Friday at $1.53 and $1.54.

CLL SP is now above the analysts average target price of $1.56. IMO we may soon see some price upgrades to adjust to market reality.

On the risk side... we maybe witnessing institutional push related to the new share offerings to raise CLL diminished cash balances and working capital following the crush of the Bitumen prices and lower production levels. 150 million new shares at $2 would restore the cash balances and give adequate capital for 1-st stage of Algar expansion.

The time will tell if the trend is your friend. My stops are at the 2-nd support level and will change accordingly.