CBL parallel channel, double bottom, short squeeze possibility

2019년 6월 30일

CBL and Associates Properties, Inc. has been in a long-term downtrend, and I don't think I'd want to own this stock long-term. Analysts are fairly bearish, and the stock has a history of missing earnings estimates.

For the last month, however, it's been in an uptrend. It broke a downward trendline, and most recently it's formed what looks like a double bottom. Short interest is high, setting up the potential for a short squeeze. That tells me this could see channel top again in the relatively near future at 1.29 or above.

There's support at 1.02, so that's a good price to buy with stop limit at 1.01. Alternatively, you could hold out for a purchase closer to channel bottom with below-channel stops.

As always, this is simply an idea as to how the market will move, not investment advice.

2019년 6월 30일

노트

Here's the trendline break: