CBA and WOW completing the uptrend.

by Michael Gable

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.  

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