U seller has just come on at 730c. I think this marks the beginning of a downward trend for CML. Their profit figures are out this Friday, they have got headlines today in the AFR about their drive to cut supplier costs and there is very little buying support following through.
My chart indicates that the strong resistance point at 725c (which has been tested quite frequentlt) will give way shortly. I see a drop below 700c before the end of the month (maybe to 680c). Time to go short on CML and there are a few puts out there that look pretty attractive (including warrants).
CML Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
