CFG - good R/R long opportunity
CFG, a stock that has made consistently increasing earnings over the years, forms a low risk/reward opportunity for LONG.
Here are the clues that supports the buy:
- Divergences formed against RSI, MACD and Stoch.
- Bounced from 50% Fib level from previous rise.
- Has good form of a Elliott Wave count in which C of (4) of V has been completed. (5) of V is expected to be in progess.
- Bounced at Fib-ext 100% to make a textbook ending point for C.
- Bounced from resistance level made by III.
- Stoch has crossed over.
Tight SL: 39.5
Target: 50-53
Here are the clues that supports the buy:
- Divergences formed against RSI, MACD and Stoch.
- Bounced from 50% Fib level from previous rise.
- Has good form of a Elliott Wave count in which C of (4) of V has been completed. (5) of V is expected to be in progess.
- Bounced at Fib-ext 100% to make a textbook ending point for C.
- Bounced from resistance level made by III.
- Stoch has crossed over.
Tight SL: 39.5
Target: 50-53
Order cancelled:
Trade never triggered