Today we are looking at applying a Bull Call on CSR Limited (CSR)
Analysis:
CSR is currently trading at $5.61
CSR has been trading in a long-term uptrend since its lows last year. Recently, it pulled back from its highs, creating a short term counter trend line, but stalled at the longer term uptrend line. It retested the uptrend line a couple of times, bouncing off it but unable to push through the key resistance at roughly $5.55. Today shows CSR pushing through that level and continuing the break of the pennant pattern. Technical indicators like the stochastic continue to look bullish and it is back above the 200 day MA.
If you would like to learn how and when to use this strategy, and other strategies like it, then please contact us here at TradersCircle on 03 8080 5788. Alternately, you can access some free resources off our website which runs through advanced strategies.