CFF Ready for Takeoff? (>78% Potential Profits)
Hello Fellow Traders,
Here we are looking at Conifex Timber Inc (CFF) on the TSX. This chart is pretty self explanatory. While prices have been moving down since 2018, we can see that some bullish momentum came in during June this year. On the smaller scale, we can see that a bullish falling wedge pattern has formed. On the larger scale, we can see a that a nice cup & handle has also formed on the daily chart. Prices have bounced off of all the EMAs, and both the MACD and RSI are bullish. Prices are ready to move higher and can easily breakout past recent highs. A potential trade set up now may be:
Entry: $1.50-$1.80
Targets: $2.25 (31%) | $3.05 (78%) | $3.85 (125%)
Stop loss: $1.35 (-20%)
Let me know what you think down below and leave a like if you appreciate the analysis. Also, check out my profile or some of the related ideas below and be sure to follow for more chart analyses and profitable trade setups!
Price at writing: $1.70
Here we are looking at Conifex Timber Inc (CFF) on the TSX. This chart is pretty self explanatory. While prices have been moving down since 2018, we can see that some bullish momentum came in during June this year. On the smaller scale, we can see that a bullish falling wedge pattern has formed. On the larger scale, we can see a that a nice cup & handle has also formed on the daily chart. Prices have bounced off of all the EMAs, and both the MACD and RSI are bullish. Prices are ready to move higher and can easily breakout past recent highs. A potential trade set up now may be:
Entry: $1.50-$1.80
Targets: $2.25 (31%) | $3.05 (78%) | $3.85 (125%)
Stop loss: $1.35 (-20%)
Let me know what you think down below and leave a like if you appreciate the analysis. Also, check out my profile or some of the related ideas below and be sure to follow for more chart analyses and profitable trade setups!
Price at writing: $1.70
