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.