Bullish potential detected for CNIEntry conditions:
(i) higher share price for ASX:CNI along with swing up of indicators such as DMI/RSI.
Stop loss for the trade would be:
(i) below the low of the recent swing low on 12th September following the gap-up (i.e.: below $1.775), or
(ii) below the support level from the open of 26th August (i.e.: below $1.745), depending on risk tolerance.
CNI
CNI Transportation Infrastructure Swing LongCNI is a Canadian Rail company. With the possible strike in the US, this
company can help take goods from China to the east part of North America.
Technically it is a solid performer with good recent earnings. This is
a slow but steady mover low beta ignores the general stock market and
a recession will have little impact. In the past month no matter any
bear market rally overall, CNI has had relative strength.
I will go long with a far-out call option to grind out some profit with
low risk of unexpected volatility.
option.
CNI REVERSE INBOUND! CNI wil reverse soon, and put a end on this tremendous bearmarket. Minimum target 1.0! Get ready!
Short / Mid HoldIf bull is strong, price break 130(TP1) will reach to possible TP2 for midterm hold.
CNI - Bullish Breakout CNI
Rst: 0.14/ 0.165
Spp: 0.11
Bullish breakout from psychological resistance 10sen, and with BB strongly widened and RSI pushed above 80%, pure bullish mode is set to unleash towards Fibo Ext 161.8%.
CNI - Island in the sunCNI has an Island Reversal pattern from a small gap down in early October to the gap up a couple of weeks later. Bullish momentum has continued with a couple of strong volume bullish days to show the transition. If the price can hold above $86.60 then the bullish momentum should continue.