Alex_Quiroga
Long

Bank vs. Cryptocurrency #13 (CM)

NYSE:CM   CANADIAN IMPERIAL BANK OF COMMERCE
This stock is lagging compared with others in the Financial Industry and compared with past examples of this series of publications
I say this based in the highs of 2007 before the drop in 2008 because others leaders in this industry already surpassed the highs of 2007
Others are between the 2007 and 2008 highs but not above
And other very lagging are below the 2007 highs
Now in 2018 there are resistance in front of the price close to 100.00 and in the 105.00 area, more resistance
2007 Highs, 105.00 price area = Resistance
That tells me not to buy in resistance, but there is a but and is my discretion because I use a manual system for pick stocks and not mechanical trading system
What does this all mean
This means I have thoughts = I use a discretionary process for picking stocks
And I bet for a resistance breakout based in that leading banks in this sector are more ahead in the price action scene
In other words there are leading companies and lagging companies in a Industry/Sector
I follow 168 listed companies in the Financial Industry
I can appreciate the leading and the lagging and select the lagging because he is following the leaders
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