CIM has been in a long-term decline for 3 years. Since the Covid fall into March this year price has had 2 short uptrends and downtrends with the last uptrend confirmed last week. However, a valid trendline cannot yet be drawn through 3 weekly troughs. Price is working on a pattern where should it close above $28 then it owuld suggest a target of $38.80 - a 42% gain on Friday's close.  There are interim targets to watch of $29.59 and $35.00 which could turn price before that higher number. Price has broken above a downtrend and has made a higher weekly trough followed by a higher high, both of which are buy signals. 

CIM 15Jan21


Robert Norman

Phone: 0428 346 951

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