CNI is a Canadian Rail company. With the possible strike in the US, this company can help take goods from China to the east part of North America. Technically it is a solid performer with good recent earnings. This is a slow but steady mover low beta ignores the general stock market and a recession will have little impact. In the past month no matter...
CNI is looking to form a third bottom along the horizontal green line This is an extremely bearish out come in the short term but longer term it provides great support Daily timeframe Bearish Scenario
CNI wil reverse soon, and put a end on this tremendous bearmarket. Minimum target 1.0! Get ready!
CNI waiting for valid reversal.. short trading period.
If bull is strong, price break 130(TP1) will reach to possible TP2 for midterm hold.
CNI Rst: 0.14/ 0.165 Spp: 0.11 Bullish breakout from psychological resistance 10sen, and with BB strongly widened and RSI pushed above 80%, pure bullish mode is set to unleash towards Fibo Ext 161.8%.
CNI has an Island Reversal pattern from a small gap down in early October to the gap up a couple of weeks later. Bullish momentum has continued with a couple of strong volume bullish days to show the transition. If the price can hold above $86.60 then the bullish momentum should continue.