Conifex Timber Inc.
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Market insights
#CFF New Target : $2.49 -2.80 @ 31%- 48%Target : CAD 2.49- 2.80
Resistance 3 : CAD 2.49
Resistance 2 : CAD 2.22
Resistance 1 : CAD 2.01
Support 1 : CAD 1.74
Strong Support Level : CAD 1.60
Sector : Non-Energy Minerals
Industry : Forest Products
Conifex Timber, Inc. engages in the manufacture of structural grade dimension lumber and generation of bio-energy. Its activities include timber harvesting, reforestation, forest management, processing logs into lumber and wood chips, value added lumber finishing, and generation of electrical power. The company was founded in 2008 and is headquartered in Vancouver, Canada.
News & Updates
(8Oct2021) Conifex (CFF) repurchased 565k shares, or ~1% of its outstanding shares during the quarter. According to SEDI, Conifex repurchased ~565k shares for ~$1.0 million, or ~$1.85 per share (range: $1.71 to $1.97 per share). The company was consistently active through the quarter, albeit in smaller size.
**Disclaimer - This is not a financial advice, please trade with caution and on your own risk. This prediction Based on My Dreams.
Do not view this idea as a recommendation for trading or investing. Risk Only What You Can Afford. Always Use a Stop Loss. Past performance is not necessarily a guide to future performance.
I would appreciate your feedback on my analysis.
Cheers
CFF Ready for Takeoff? (>78% Potential Profits)Hello Fellow Traders,
Here we are looking at Conifex Timber Inc (CFF) on the TSX. This chart is pretty self explanatory. While prices have been moving down since 2018, we can see that some bullish momentum came in during June this year. On the smaller scale, we can see that a bullish falling wedge pattern has formed. On the larger scale, we can see a that a nice cup & handle has also formed on the daily chart. Prices have bounced off of all the EMAs, and both the MACD and RSI are bullish. Prices are ready to move higher and can easily breakout past recent highs. A potential trade set up now may be:
Entry: $1.50-$1.80
Targets: $2.25 (31%) | $3.05 (78%) | $3.85 (125%)
Stop loss: $1.35 (-20%)
Let me know what you think down below and leave a like if you appreciate the analysis. Also, check out my profile or some of the related ideas below and be sure to follow for more chart analyses and profitable trade setups!
Price at writing: $1.70
CFF.TO Timber Stocks Continue to March HigherTimber stocks continue to march higher. WFT and IFP also doing well. WFT has been on the swing trade list a long time.
After the recent pullback, looking to catch another wave up in the uptrend.
3:1 reward:risk based on reasonably achievable target.
Low volume. Careful.
No current position in this one.
CFF analysisThis particular stock has been on an upward momentum. It is inside an upward channel. The upper resistance line and the 20 EMA are the acting
upward channel for this particular stock. MACD and Force index indicates a bullish momentum.
It may be reaching its distribution phase soon once it bounces back to the support line and a bearish candle confirms it.
If not, I may be able to earn 50c/share for this stock. I would only buy a few shares because of the low trade volume.
The risk is moderate. It is also important to note that the MACD is reach lower highs signaling that the buy-off is almost over and the bears will soon come in.
CONIFEX TIMBER next bullish moveAfter 14 months in a lateral trend, Conifex Timber bulls have taken over. It seems that a new bullish leg will be triggered soon.
I wish you good profits fellow traders
