Monday, January 23, 2006

Canadian Natural Resources full to the brim...again

It has only been eight months since Canadian Natural Resources (CNQ) last split its stock, but here we are again - back where we started. That would be a 100% gain since May of last year. Impressive. CNQ closed just shy of $70 on the TSX and at $60 on the NYSE. Not coincidentally, CNQ split its stock in May of 2004 at the same levels. It would not be too much of a stretch to expect another split in the coming months.
Stock Trends helped identify a trading opportunity most recently in CNQ when the stock was tagged as Weak Bullish back in October. The share price had drifted back toward a support level and the Weak Bullish indicator alerted to this trend violation. The stock has rallied since - up 55% since the October bounce.
CNQ is week 150 of a Stock Trends Bullish trend - a three year performance that is quite remarkable - especially because the end does not seem near. This is a winning horse...with legs!
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