CBJ has been traveling within an ascending channel since the beginning of November and today's 52-week high puts this stock in an interesting technical position. As you can see from the chart below, today's 4.75% gain has sent the price of the shares toward the upper resistance level. This is interesting because range-bound traders would expect to see CBJ bounce off this level and head toward the lower trendline, while breakout traders will watch for a move above the resistance to signal another opportunity to send the price higher. We'd expect to see CBJ head upward until it closes below the support of the lower trendline.
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