Computershare poised for recovery

The share price action since May hasn’t looked too good for CPU as the stock became subject to sharp sell-offs and then very lazy rallies where it struggled to make new highs. In the last month however we have seen the share price start to round off above the $9.50 mark which was the last low of the recent uptrend. The rally off that level a few weeks ago indicates that we may be starting to see the end of the recent share price correction.  We would ideally like to see it trade above $10.42 which would indicate that the downtrend since May is over. If that were to occur, then CPU could easily rally to a new high where major resistance could be seen at $11.50.