The price of City Office REIT, Inc. (CIO) has broken the neckline of its head and shoulder pattern. Therefore, this confirms the beginning of a bearish trend and our plan is to enter sell positions from a pullback.
Our sell setup is very simple: Sell limit orders are placed in the neckline area of $16.10. SL is set right above the third shoulder of the H&S pattern. The first target is set in the previous gap area of $13. We do believe that there is a very high possibilility that last year's gap will be filled.
Our sell setup is very simple: Sell limit orders are placed in the neckline area of $16.10. SL is set right above the third shoulder of the H&S pattern. The first target is set in the previous gap area of $13. We do believe that there is a very high possibilility that last year's gap will be filled.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.