CBG
CBG LONGYesterday we had the most bearish day in the market of the year, however even that the market closed with a big loss, CBG at the end of the day had a big pullback leaving a nice hammer in the D1 candle. We can see that it got to a really nice support in 32.5 and the lower level of an ascending channel.
We could start thinking in a bullish bias, however I recommend to be watching the reaction of the market before entering this trade.
KL: 34.10
SL: 32.30
TP1: 37.70
TP2: 39.00
CBG- Long at the break of $28.55 to $38 area, & $27 March Calls CBG
Date First Found - November 15, 2016
Pattern/Why- bullish momentum, breakout move.
Entry Target Criteria- break above $28.55 (hit November 15, 2016)
Exit Target Criteria- Target 1 $30.13 Target 2 $38.03
Stop Loss Criteria- $27.73
Indicator Notes- strong improvement in Twiggs Money Flow, insider buying
Special Note- we would consider March $27 Calls @ $2.90
