Thursday, March 02, 2006

CIBC tests resistance

CIBC (CM) has failed to gain much traction since its rally off of its lows back in the autumn. It has tested resistance at the $81 level earlier in the year, but the move today to a new 52-week high at $81.75 offers traders another cue. Should CM move significantly through this level the prospects for its bullish trend would improve.
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