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...
Timber stocks continue to march higher. WFT and IFP also doing well. WFT has been on the swing trade list a long time.
After the recent pullback, looking to catch another wave up in the uptrend.
3:1 reward:risk based on reasonably achievable target.
Low volume. Careful.
No current position in this one.
This particular stock has been on an upward momentum. It is inside an upward channel. The upper resistance line and the 20 EMA are the acting
upward channel for this particular stock. MACD and Force index indicates a bullish momentum.
It may be reaching its distribution phase soon once it bounces back to the support line and a bearish candle confirms it.
If...
After 14 months in a lateral trend, Conifex Timber bulls have taken over. It seems that a new bullish leg will be triggered soon.
I wish you good profits fellow traders
