CHL is in an bullish impulse move. Price broke Wave 1 and it is currently in a Wave 3 of 5 pattern.
Minimum target is the 100% extension of Wave 1 which is 45-46.
Minimum target is the 100% extension of Wave 1 which is 45-46.
Trade active:
CHL continues to move in the bullish direction. I have added a line to the start of the impulse wave a Wave 0 to Wave 2. Wave 3 remains in play if price remains above the trendline that is derived from Wave0 and Wave 2. Maintain 45-46 as my minimum price target with 48-49 as a 1.618 target.
Trade active:
I overlooked to provide updated image
Trade active:
Nice move in CHL above 44 to a high 44.68. Maintain my minimum target of 46 with realistic move to ~49. Full transparency, I hold Mar20 $45 Calls.
Comment:
CHL continues the impulse move. CHL rapidly approaching 45. Maintain prior target of 46 with a realistic move to ~49
Trade active:
With all the bad press on the Corona virus, it would obviously have an impact on CHL. It is possible that we just completed a Wave 4 corrective wave. I have some doubts but I remain committed to the 46 target in CHL
Trade active:
CHL is in the later changes of forming Wave 4 triangle pattern. Impulse move is in t he horizon.