Well as I mentioned in post last week….we are starting to get yellow light…it’s not red just yet but yellow…caution…RSI now over 70 (overbought) the ADX is about to break outside the bands of the DMI…and CEFL is entering a resistance zone….that is 3 yellow lights. By no means is the trade over. Price is north of the 5 ema…the 5 ema is north the 20 sma, and the 20 sma is north the 50 sma. Proper moving average alignment.
I will stay with this trend till it turns….but no reason not to lock in some of the price appreciation I have earned since the buy signal in November. I added a 2nd lot of 1000 shares Nov 22nd and Nov 23rd around $16.00. I am up $1040 in price appreciation collected $480 coupon payment last month. Ex-Div day is 1/11/17…it is $.37 That will be $370 on 1000 shares and $740 on 2000 shares.
With that big of an ex-div qualification only days away I don’t want to move to fast to take profit here even though I am starting to get yellow warning signs. The perfect play would be price moves up tomorrow then drops on ex-div day to around today’s price.