CHALLENGER LIMITED
Long

CGF - Another Buying Opportunity

CGF has pulled back as anticipated, and is expected to give another buying opportunity. The recent pullback seems incomplete though and may be it has a little more room to the downside before turning up. I have two scenarios:

Scenario 1 - Can go higher after forming a base and shows bullish price action
Scenario 2 - Can dip lower towards my Buy Zone and trendline Support between $4.40 - $4.70.

In both the above scenarios, my target is the same targeting the previous highs, atleast towards $6.75 (potential 40% gain).

Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.

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