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CANADIAN IMPERIAL BANK OF COMMERCECANADIAN IMPERIAL BANK OF COMMERCECANADIAN IMPERIAL BANK OF COMMERCE

CANADIAN IMPERIAL BANK OF COMMERCE

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CM trade ideas

CIBC at it's limit for now?After a good run TSX:CM is up around 12% from the time of writing since the last chart was put out. (Link at bottom) As there is plenty of resistance around this level i think it's best to sell. I think we could see a very deep retrace from here, so I'll be watching to re-buy around $100 if I can! Keep watching for bullish price action below, and don't get greedy! Overall i consider this stock a really good pick! Definitely a keeper, with a great dividend. Not expecting it to break lower trendline. Previous chart: ()
TSX:CMShort
by SpiralGraph
3
CIBC Hitting Major Daily S/R LevelTaking a look at the daily chart CIBC TSX:CM to see that it could be at a very decisive point around the $104 area. Price hit a major horizontal that acted as a strong resistance turned strong support with price hitting that level on multiple occasions with subsequently massive price movement to follow. * If price breaks this S/R level with conviction I will look to enter on a pullback to the S/R level * If price bounces off this level this week I would cautiously enter a long position with a stop just below the S/R level Considering the current market conditions and with this being the third retest of the S/R Level coupled with the 100EMA/200EMA bearish cross I'm inclined to favour the bearish scenario over the bullish in this case. Trade Wisely, Chloster
TSX:CM
by Chloster
Bank vs. Cryptocurrency #13 (CM)This stock is lagging compared with others in the Financial Industry and compared with past examples of this series of publications I say this based in the highs of 2007 before the drop in 2008 because others leaders in this industry already surpassed the highs of 2007 Others are between the 2007 and 2008 highs but not above And other very lagging are below the 2007 highs Now in 2018 there are resistance in front of the price close to 100.00 and in the 105.00 area, more resistance 2007 Highs, 105.00 price area = Resistance That tells me not to buy in resistance, but there is a but and is my discretion because I use a manual system for pick stocks and not mechanical trading system What does this all mean This means I have thoughts = I use a discretionary process for picking stocks And I bet for a resistance breakout based in that leading banks in this sector are more ahead in the price action scene In other words there are leading companies and lagging companies in a Industry/Sector I follow 168 listed companies in the Financial Industry I can appreciate the leading and the lagging and select the lagging because he is following the leaders
NYSE:CMLong
by Alex_Quiroga