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Credit Suisse Group (CS) in a Bearish Breakout From a Consolidation Range

Credit Suisse Group $CS has been trading in a consolidation range between roughly $11.50 and $12.60. Last week, price was at the resistance of this range. This week, price is breaking below the range support.

Credit Suisse Group (CS) Trading at Small Range Resistance

CS Daily Chart

(click to enlarge)

Bearish Breakout:
- First of all, price has been in a bearish trend since early 2018. 
- There was a rebound and a period of sideways consolidation in 2019, but that could be changing.
- We can see price break below the $11.50 low this week.
- This price action opens up the $10.23 2018-low, as well as the $10 mark, which was also a 2016-low.
- The weekly chart shows us that the downtrend has been long-term, not just from 2018. 

CS Weekly Chart

(click to enlarge)

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