Canfor Corporation : A rebound in sight
By Anas Boumedian
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$25.97 | $0 | $23.9 | -100% |
Graphically, the stock fell sharply in the last weeks, but is coming back now on the CAD 25.2 support. Moreover, it coincidates with the upward trendline in both daily and weekly data. Those technical thresholds are likely to allow a significant technical rebound towards CAD 28.8.
Thus, long positions can be opened on the stock in order to aim CAD 28.8 as a first target. A stop loss will be placed under CAD 25.2 to avoid an important downturn.