CLS: 5-Month Tight Base & 200MA Bounce
By:TradingView
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The Setup:
Celestica (CLS) is an excellent long-term trade that is displaying incredible relative strength, remaining strong in a weak market. The technical structure is flawless: the stock formed triple bottoms at support, resulting in very tight stock action on the monthly chart. This has culminated in a 5-month tight base. The ultimate entry signal is a successful bounce off the 200MA, proving that long-term buyers are fiercely defending this level.
Tip: Use the CSEX ETF for 2x leveraged exposure.
Reasoning:
Celestica (CLS) is an excellent long-term trade that is displaying incredible relative strength, remaining strong in a weak market. The technical structure is flawless: the stock formed triple bottoms at support, resulting in very tight stock action on the monthly chart. This has culminated in a 5-month tight base. The ultimate entry signal is a successful bounce off the 200MA, proving that long-term buyers are fiercely defending this level.
Tip: Use the CSEX ETF for 2x leveraged exposure.
Reasoning:
- 5-month tight base with tight monthly action
- Triple bottoms establishing an unbreakable floor
- Bounce off the 200MA (Key long-term support defense)
- Strong relative performance in a weak market
- Leverage Option: CSEX (2x ETF)
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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