Ceylon and Foreign Trades Plc - 17.4% target ..... .5.90 must hold

CFT.N.0000 is trending up since the lowest low of 4.70 on the 9th of March 2016. Since April it had been trading side ways along the 200 EMA within a low of 5.40 and a high of 6.60, finally breaking out and moving upto find resistance at 7.00. It is once again going through a consolidation with a low at 5.90 and a high at 7.00. There is a trading opportunity available on this counter at the present close of 6.50, with a target of 7.80. A return of 17.8%. However it is important to note that a Stop loss at 5.90 is very important, to follow this trade.