The are three stocks at present that technically look very strong indeed. Running a scan of the market for names that are trading two standard deviations from its 20-day moving average, are at a thirty day high, the MACD above the signal line and price above the five-day moving average, these include CSR, QUB and ILU
Comments
James Marlay
I have read a couple of quite bullish reports on CSR of late, although the broker community appear to be divided. It sounds like they have some optionalility with respect to divesting a number of assets within the business (they have a holding in a non listed Aluminium business caled Tomago). Additionally the balance sheet is incredibly strong with vbery little debt. The stock is up 191% since July 2012 - still well short of the pre GFC high of $8.66.
James Marlay
BTW welcome back, hope you had a good trip.
Chris Weston
cheers James. Not sure about fundamentals, but from a trend perspective it looks amazing