Thursday, May 17, 2012

CP will it be Head and Shoulders above the rest?

It will take time to see if CP will be turned around after the leadership change today. The stock price certainly has had a good run the last few months, but now the hard work begins. The stock has formed a daily head and shoulders pattern, X are shoulders, Y the head. This usually indicates lower prices in the future. The corporate change is done, selling on news has a tendancy to work and the overall markets are weak. Look at selling and picking up at lower levels, railways are a great business.

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