CANADIAN PACIFIC RAILWAY LIMITED COMMON STOCK NYSE:​CP

CPS: cooper std hldg inc 2018-06-20 17:16:04 Detected possible stock repurchase

CP

Tightening wedge, ready to give any day now. Expect sharp move lower after multiple failed upside attempts in an overall bearish trend.

Breakout looming...target 156

Courtesy: tradingview.com

CP Rail TSX stock price in US dollars

we can see daily cup and handle pattern with triangle action and odds for day*swing trading plan

I've been short since 214. When I initiated the trade I targeted 210 as the key level in the short term to break, and sure enough it is stalling there today. A decisive break below 210 could easily send it back to 200. If 210 holds and the broader market turns up, back to 220 is likely.

Many a time, trader are told that we should not be averaging. But again there is something they left out i believe. Averaging is workable on 2 conditions IMO: 1. I can stomach expected loss initially 2. Only average very near to market top or market bottom I am ready to short again when price hit 220.

I shorted immediately after seeing a double divergence @ strike price 208 as a result of my impulsiveness, price of CP shot up to 210.5 and i was at paper loss of 150 momentarily. But having a declining MACD backing me up, i just stay on and wait patiently. Took my 50% profit when price hit 50ema yesterday. Two important candlestick pattern at the top. Bearish ...