On April 6 I recommended Denison Mines when it was about a dollar with a potential target of , perhaps , $8 being the apex of a triangle. We are not there yet but are now at $2.75, a good deal more than 30% , so we chalk it down for accounting purposes. It is still going to $8. Here is the chart again.
On Feb . 18 I opined that cat should drop to about $26 and then rise back to $47 or so. Similar comments were made with regard to DE and Canadian Western Bank, the one that finances all things yellow that smell of diesel. Here is the chart for CAT.
The analysis was fairly easy as the down-turn from 90 was entirely anticipated and the following 5-waves clear as a bell. The stock went a little deeper than expected hitting about $22. Anyway had you bought at the 26 level you would be ahead by about 14 or almost 50%. I would sell here, leaving some on the table for the next guy. CWB not quite as spectacular but did almost do our usual 30% (11 to 14). DE went from a low of $25 to about $45 and should be exited as well. CMI might still go a little further, no entry level was ever given, only timing, it too is up at least 30%.
Obviously I am wrong in suggesting the HXD was a buy. But the TSE itself is close to the nice round number of 10000 (and a logical retracement point) and as vectors this a-b-c is pretty well equal as it approaches $18. Note once again , the RSI and MACD have already turned. For the moment I am staying with the position.
The DAX is by far the “cleanest†chart of the lot. A further rise to 5250 or another 400 points or so cannot be dismissed but even so the index already made a high in terms of RSI, MACD, and has hit the par. line at 4650 and gone through. Risk /reward does not favour the upside.