DBM at bottom of 2-year-long bullish channel4 consecutive higher highs 4 consecutive higher lows all since June 2022 I like the look of this one and I believe in the company too (Canadian Lumber)Longby ChemistNateUpdated 1
DBM is a buy under $6TSX:DBM pays a quarterly dividend of 0.14, which is 9.3% yield. It has fallen back to its September 2021 low, after retracing 50% of its bearish leg. It has heavy support (14 weeks worth) at $5.81 Could it fall further than that? Sure, anything can happen. But I think it is unlikely in the next week, as the ex-dividend date is the end of this week. Perhaps the dividend will be the catalyst to push it lower. I will probably accumulate a position if I can get it sub-$6 on Monday or Tuesday.by ChemistNateUpdated 110
AnalysisHere we will have a big probability of an uptrend after the breakout with force the resistance line by a big green candle with a large green volume. So, in other hand we can have a downtrend if the support line and also the vwap indicator are broken with force by a big red candle with a large red volume.Thanks.by PAZINI19113