Q: Hi 5i
CCO ($92) is up over 11% today on news of a couple of upgrades with price targets of 93 and 95. The company expects a $170 million increase in its Westinghouse Electric stake, and there is talk of the US building 10 large scale reactors.
My dilemma is that I bought CCO at 56 in early April and am up more than 60% already. I'm tempted to sell now as RSI is over 80. I know you like momentum but the rise has been almost straight up. Would you sell some, all or none? It is in TFSA so no tax to pay and is less than 3% of port.
Thanks, Greg
CCO ($92) is up over 11% today on news of a couple of upgrades with price targets of 93 and 95. The company expects a $170 million increase in its Westinghouse Electric stake, and there is talk of the US building 10 large scale reactors.
My dilemma is that I bought CCO at 56 in early April and am up more than 60% already. I'm tempted to sell now as RSI is over 80. I know you like momentum but the rise has been almost straight up. Would you sell some, all or none? It is in TFSA so no tax to pay and is less than 3% of port.
Thanks, Greg
5i Research Answer:
We would be reluctant to sell based on the sector outlook, recent news, and momentum. There are...