CIBC at it's limit for now?
Updated
After a good run 
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 greedy!
Overall i consider this stock a really good pick! Definitely a keeper, with a great dividend.
Not expecting it to break lower trendline.
Previous chart:
(tradingview.com/chart/CM/y2zHzakn-CIBC-Trendline-support/)
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 greedy!
Overall i consider this stock a really good pick! Definitely a keeper, with a great dividend.
Not expecting it to break lower trendline.
Previous chart:
(tradingview.com/chart/CM/y2zHzakn-CIBC-Trendline-support/)
Trade closed: target reached
Out of short. WIll look for long entryNote
Is this a minor top?This would be the ideal scenario.
However, not 100% confident this is the top. Still hoping to buy around $100~
Right now looking like the bottom should be $99-102~
Note
Close to major resistance again.No point in going long here, the risk isn't worth the reward.
Will consider a long, with a break over $112.
Otherwise still aiming for that $100 ish area.
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.