On CI stock we have nice signal to go long. On this moment CI is in consolidation.. and we had support few days ago. It's should be opportunity to go long with nice R:R ratio.
NYSE:CI has held the $124.5 support very well for a while but it looks like the price is in a descending triangle. If the support is broken, there is a potential for a big move down to $90. or we can have another up leg from the support and then go down. Lets see what the market brings us.
CI has recently begun to trend very well - especially since clearing the $100 zone. There were a couple of retests of the figure then, in early February, the daily 50ma held as support. Since then the trend has been linear.
As the trend is only just beginning to smooth out it is early to enter a long-term position at the moment. But as the overall trend has been...
CI completed its' 1.618 fib extension from 2008 peak to trough. The more I use fib analysis in my studies, the more and more i'm coming to believe in its powers.
