Looking for a bounce from Manulife
Your interest in buying in at the $17.33 level does have some merit but you’ll have to watch May 6 when MFC reports their Q1 results.
Your interest in buying in at the $17.33 level does have some merit but you’ll have to watch May 6 when MFC reports their Q1 results.
At this point you are best to trade the range until WIN breaks through the resistance at $3.10 and returns to an uptrend.
From a risk management perspective I would say the best play would be the ride from $2.50 to $5.00 if it gets there.
MAKE IT A HUGE WEEKEND!
http://www.youtube.com/watch?v=nfLEc09tTjI&feature=related
Back on February 26 th it was noted that a good entry point would be in the $3.85 range and at yesterday’s close it has provided a 26.49% return. Yes you have to manage the foreign exchange risk but still sweet!
Long term SU is sitting on long lived assets and will produce wealth for investors but that doesn’t suggest its a buy and hold.
If you have an appetite for risk you could jump on now and see if you catch a lift. On the other hand if you are risk averse you would want to see FM move through resistance at 82.50 and see if you can ride it back to $92.50.