JavidTrader

Resistance and support

NYSE:CIB   BANCOLOMBIA S.A
CIB             has found support recently from a previous level on the weekly chart but on the daily it is at the trendline resistance.

We want to wait for price to make a decision (breakout of trendline or breakdown of support level ) before considering a new position on this stock.

Earnings are due next week so this is another reason to wait for price to make it's move.
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