Information Position: Long Size: 1 Price: 89.82
Boc is increasing money supply and exploding their balance sheet. Banks benefit the most from this money supply. They filled the gap Friday and most likely to rally to 115. Going to Buy some cm calls 115 expiration in September.
the whole market is looking like this
I like CIBC at today's price but there may be more to come. Canadian banks are some of the most conservative and solid in the world which is why we already own some of this one. But, the monthly chart suggests that if another down-leg starts, this one may see prices in the low 70's. Who the hell really knows. At the current price as I write this of $87.50, the...
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.
Looking pretty weak ... upcoming months will be interesting !
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:
Looking like the rest of the market ... do i smell a recession ?
Time to look for an entry here, best seems Canadian Imperial Bank of Commerce. Maybe it is better to wait for a small bounce and enter then/
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,...
This stock is lagging compared with others in the Financial Industry and compared with past examples of this series of publications I say this based in the highs of 2007 before the drop in 2008 because others leaders in this industry already surpassed the highs of 2007 Others are between the 2007 and 2008 highs but not above And other very lagging are below the...