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gkm
Jul 14, 2023 11:35 AM

LT Support Area / 200-500 Channel Daily Long

Canadian Imperial Bank of CommerceNYSE

Description

A bunch of support here and stochastics look good on all timeframes presently. A move above 43.50 puts it into a 200-500 moving channel. Next resistance is the 44 figure. 47.50 first target and then 49.40-51.50. Stop would be daily close below 41.70 so RR is reasonable. Volume is currently light which is not fatal but also not ideal. With bank earnings now coming that may change.
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