I would buy this stock if they replace top level management, esp the directors.
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I would buy this stock if they replace top level management, esp the directors.
CEN must be a buy at $5.67 - up coming reduced results must have been factored into the price. May not be until next year but will surely show good growth.
a full takeover at $7....would succeed imo.
I am no chartist, but the trendline says it is going lower.
Maybe guru chartist like Phaephrus can enlighten us.
It appears to have support around $5-50.
I suspect that takeover speculation will see it hold that level.
CEN has been in a downtrend for about a year, so far. The existing confirmed trendline was reconfirmed a few days ago. Isn't it amazing just how precisely and perfectly linear trends can be? Within this downtrend, CEN has been in a consolidation zone for 3 months, over which time the OBV has continued to fall (this is bearish). It will be interesting to see if the support at around $5.48 holds.
See how the On Balance Volume indicator provided excellent confirmation of all trendline break buy/sell signals - often triggering a few days before, as befits a "leading" indicator.
I routinely run another 10 or so indicators on CEN - but who needs 'em? The situation is crystal clear and more indicators contribute nothing extra.
http://h1.ripway.com/78963/CEN69.gif
gosh, it wasn't long ago that CEN overtook TEL as biggest cap in NZ... now $1.4b adrift (and TEL hasn't been too hot in the meantime!)