Stock Chart Analysis CIM

Posted by downtowntrader | 2/07/2008 09:13:00 PM | 0 comments »

Stock Chart Analysis CIM

Chimera Investment Corporation (Public, NYSE:CIM)

CIM is a recent IPO in the financial sector which has largely been unaffected by earlier weakness in the sector. It has been steadily moving higher at a sustainable pace, and appears close to taking another step up. There is not much history to work with here, but CIM has yet to close under its 20 day sma. The financial sector also looks like it is beginning to lead when the markets move higher. Another bonus is that earnings are out of the way as of yesterday, so there shouldn't be any nasty surprises coming up. This looks like a decent opportunity as an intermediate term swing trade.

Good Trading,


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