Computershare poised for recovery

by Michael Gable

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.

Disclaimer

Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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