Cubesmart Bouncing On The Monthly Chart?

Cubesmart ([stock_quote symbol=”CUBE”]) appears to be setting up for a possible reversal on the monthly chart, having landed on support and with the Commodity Channel Index (10) turning up from the oversold zone. Looking at the daily Renko chart for added clarity…

…we see that recent price action did indeed tag a nice support zone originating in March 2015. This would be a good spot to open an accumulation position, adding shares should the price decline still further.

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