CBA and WOW completing the uptrend.

by Michael Gable 07 May 2012

CBA and WOW are showing clear reversal signals in my opinion. After a nice 6 month run, we are seeing the RSI move out of an overbought condition, which has often signaled the end of an uptrend. Buying slightly in the money call options for May is an opportunity to generate some additional income here.

For WOW I have a target of $25.50 on the downside. For CBA, I can see $50.50 as initial support, with a move closer to $49 a possibility.  

Disclaimer

Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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