Corporate Travel (CTD) soaring, shall I buy now or wait?
When we put a buy recommendation on CTD a week ago, we didn’t expect them to upgrade guidance so quickly. With the shares now up 15% since then, investors who are still on the sidelines are asking us whether they have missed the boat or not. I’ve had a look at the chart and thought I’d share with everyone my thoughts on what is the next entry point for CTD. Breaking out of a flag formation several weeks ago and then retesting it earlier this month gave us the ideal entry point. Now the stock is getting close to the February high, it should consolidate here. Low Christmas volumes should also help. CTD should dip once more to under $12 and then investors should target that. From there it can go to a new high beyond $13 in the next few months. That represents more than 10% upside if we patiently wait for that dip. CTD once again fulfils our criteria of being a strong company fundamentally and possessing strong technicals. For more on CTD, our original research is here-(VIEW LINK)
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Michael Gable is managing director of Fairmont Equities. We are a small boutique advisory that uniquely combines both fundamental and technical analysis. As a result, our analysis is featured regularly in the finance media such as the Australian...
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