My late night analysis shows the following is not meant for human consumption: Target 1: 47.06 Target 2: 49.64 Target 3: 58.07 Target 4: 62.64 CLS has made a classic TRIPLE ZIGZAG correction which started on 4/11/2010 and ended on 15/03/2011 in a WAVE "C" low.This is very complex but rare type of correction which is bullish and explains the recent price action. On the 15/03/2011 both the weekly and daily STOCH were in sync. CLS has now passsed the 61.8% retracement and the first target is the all time high of 47.06 . Once this target is passed ,the next target which is at WAVE " 1" extreme will be 49.64. The next target is at the extreme of WAVE 3 which will be 58.07 and the last target before a correction will be 62.54 at the extreme of WAVE "5".Time projections has not been made so I cant say when and how long but CLS will most probably follow these patterns. MTN which made a double ZIGZAG corrrection is folowing the same bullish pattern as I posted previously.
Purchased on CFD's on 24/02 @ 3655 with the intention to hold for max 3 months with exit at 4400.If it gets there this week then I cash in otherwise I will now set target at 4600 by end May. 5300 ? some how don't think before year end, if lucky.
Yes,we never know when or for how long. Why dont you lock in profits at your target by using a trailing stop just in case the trend does continue or take off partial profits and raise your stop to break even and leave the rest for the bigger trend?
At present intra day volatility too great, I prefer to set not only a price but time exit and if the price is reached quickly then I increase my exit if long.Works for me. Seen too many what look like manipulated trades made with the intention of triggering stop losses, saw one today, unfortunately the share in question slips my mind art present.