CEFL continues it’s march higher. I have upcoming EX-Div date of 1/09/17. So far we will own full position and collect another big coupon payment. I am up over $900 on the 2nd hlot of shares now in share appreciation on the current long position. I have been long since Nov 23 around the $16.00 range. Lot of things can go wrong by 1/9/17.
The moving averages look great, perfect alignment 5,20,50…the TSI and MACD (see blue circles on chart below) started to roll over but have now turned bullish again and TSI sitting at 69. If you have read my free trading book you know 70 on RSI zone is a signal to look for a spot to lock in some price appreciation (profit).
RSI alone isn’t a reason to sell or take profits. We have to first look at price and its relation to the moving averages. I then look at the aligment of those moving averages. Next I look at TSI and MACD make sure they are in agreement. All these factors together tell me what to do. Zero guess work.
$17.00 – $17.20 range is my next profit target.