@mtgWell, certainly a very good move, having crossed 45. As I...

@mtg

Well, certainly a very good move, having crossed 45. As I wrote on the weekend, odds had considerably increased that we may have bottomed. It seems more so now after crossing 45. So trend change from that perspective I feel.
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The next part is to make a new high - for CCJ above 56.24, and other U stocks to follow. That confirmation we don't have yet, again based on what I feel, I could be wrong. For short-term, CCJ needs to churn a bit around 44/46 level, consolidate, as I wrote on the weekend. If CCJ rushes towards 50 without consolidation, chances are when it falls, it may be a big fall. The churn around 39/40 helped us get over 45. The second thing to watch for short-term I feel, is number of greens CCJ does in a row. Its now sitting on 3 greens. Last time recently it did 4 greens in a row. So that consolidation may come, just on technicals, but not sure when. The best case scenario is it makes another jump towards high 40s, does consolidation, back test of 45, and then moves to early 50s.
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Its playing somewhat similar to March play, 6 months back, but early days. From early 40s it reached 50, with 8 straight days of green. Then it came back and tested 45 in couple of weeks. That was successful. After that, in other few weeks it made the high of 56.24, the one which we are chasing now. So something to watch for a pattern.
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Again what I am talking about is short to medium term play play. The sector is in slightly bullish phase, back to back 2 great developments (Saparro and banks). General markets are also favourable. For those playing long, a hold looks very good at this stage, but I could be wrong, so please dyor. All the best.