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After a good run TSX:CM is up around 12% from the time of writing since the last chart was put out. (Link at bottom) As there is plenty of resistance around this level i think it's best to sell. I think we could see a very deep retrace from here, so I'll be watching to re-buy around $100 if I can! Keep watching for bullish price action below, and don't get...
CIBC on trendline support. Stoploss below trendline, with next support at $90, then $70.
Short term flat to bullish surprise er, maintains current wedge..break points 99.51-101.50 Trend Line watch.
Confirmation: 99.65 (weekly candle) Invalidation: Local high Type of Trade: Countercyclical (EMA50 above EMA200) Target: 56.46 TF: Weekly Leverage: 2x Pattern: 1) monthly rising wedge reversal with 2) break of weekly support, and 3) break of major support line. Monthly view:
Taking a look at the daily chart CIBC TSX:CM to see that it could be at a very decisive point around the $104 area. Price hit a major horizontal that acted as a strong resistance turned strong support with price hitting that level on multiple occasions with subsequently massive price movement to follow. * If price breaks this S/R level with conviction I will...
The overall market correction is pulling everything down - at least for the short term (1-4 weeks), but for CIBC the fundamentals bulls will line up with the technical bulls around May 17th. Depending on Market conditions this could be a major swing for CIBC. Notes on technical analysis are in the chart. I try to keep my charts clean and use only common,...
CM shares have broken out of a $112 to $115.50 trading range and rallied toward $118.00 after EPS came in way above street. They still face resistance between the $120 round number and $120.80 where they peaked in a double top earlier this year. With other Canadian banks faltering short of their 52-week highs even though the shares have the wind at their back...