CIM seems it has changed its intermediate trend and is expected to move higher in the medium term. It has broken its intermediate downtrend line and shown strong price action to the upside. I think it has changed its trend but finding resistance in the current zone around $21.00. It may retrace lower towards the buy zone between $19.00 - $19.60 to give a higher low and move higher. I will be watching price action in the buy zone to target the above levels. My trade plan will be as follows:
TP1 - $21.50
TP2 - $23.40
Stoploss will be below the low of this new swing.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
TP1 - $21.50
TP2 - $23.40
Stoploss will be below the low of this new swing.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.