CSR breaking to the upside!

by Michael Gable

CSR formed a flag formation after having rallied strongly from about $1.20 to $3.80. This formation is just a continuation pattern and the next likely move is to resume the uptrend at some point. We have been keeping an eye on this and our patience has been rewarded with a nice breakout to the upside, hence we are happy to buy CSR now. The catalyst for the break is most likely the expectation that interest rates could head lower again. The charts indicate an upside target close to $4.50.


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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