This is looking like a good trade. From a technical view, the chart shows a rising triangle formation over the last 4 months - a very bullish structure and one of the structures that I use for trading (most of my trades being 6-9 month duration). If it breaks thru the $3.90/$4.00 zone it is on it's way to $4.60 IMO. I see this as quite a safe stock to be in with a potential 20% upside plus dividends over the next 6 months. It may end up as part of my long term portfolio as the dividends are very reliable, have been steadily growing over the years, and I get a refund of the franking credits in my allocated pension.
I have bought in at $3.73 in anticipation of the break over $4.00.
CXP Price at posting:
$3.87 Sentiment: Buy Disclosure: Held
