CM-PT.TO TSE
Canadian Imperial Bank Non Cumulative Class
SELL
Close
23.76
Prev.Close
24.10
Change
-0.3400
Change%
-1.41%
BEARISH HARAMI
Sold at
23.95
Open
24.00
High
24.00
Low
23.75
Close
23.76
Gain%
-0.79%
Signal History
Pattern & Confirmation Chart for the Last 6 Months
Our system’s recommendation today is to SELL. The BEARISH HARAMI pattern finally received a confirmation because the prices crossed below the confirmation level which was at 24.09, and our valid average selling price stands now at 23.95. The previous BUY signal was issued on 31/10/2023, 34 days ago, when the stock price was 23.04. Since then CM-PT.TO has risen by +3.95%.
We may be at a market top or at the start of a correction. The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. Today’s candlestick has a black body and its close is below the confirmation level. The bearish pattern that was previously identified is finally confirmed and a <SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.
This pattern consists of a white body and a small black body that is completely inside the range of the white body. If an outline is drawn for the pattern, it looks like a pregnant woman. This is not a coincidence. “Harami” is an old Japanese word for “pregnant”. The white candlestick is “the mother” and the small candlestick is “the baby”. more...
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