PaulYoung
Long

You can – Canon!

NYSE:CAJ   CANON INC
20 0 1
Maybe it’s time to make a picture of Canon? After continuing consolidation it’s time to go up. Consolidation shaped as falling wedge pattern, contraction of the range has already occurred, then two downtrends to the broken level followed.
The idea is that accumulated divergence on RSI and a growth OBV should push the price to the base of the wedge in the vicinity of a $40 mark. Previous trend is higher, so it may go down to it, to the level of 42. If the level is broken, the way to 52 and 60 is free. But it’s too optimistic scenario, target at 40 will be enough for the deal.
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