Thanks for your evaluations Teddy.
I was just reading some of the posts leading up to the previous low of 2.4c on 22/09/2016. You mentioned repeated patterns in your analysis to help you identify suitable investments. Same for sentiment too it seems. Much of the same themes for CCE shareholders were relevant back then also.
The inexplicable rise in share price from 2.4c to a high of 9.1c three months later which hindsight now tells us was based on very little fundamental strength underlines the high risk a CCE long term inverstment really is.
I have been a holder for over 10 years. I've managed to sell into strength a few times along the way and buy back lower, but am present my average buy in the red. Within my risk tolerance though and my expectation is the share price will surprise to the upside again, where I can sell into demand once more. Though next time I may place my eggs elsewhere as the opportunity cost needs more of my consideration.
I wonder if there is an equivalent to a blow off top in price action we often see when prices run up to an unsustainable high? Does the same thing occur at the bottom? I'd expect so.
Is the price action we are seeing now aimed at wringing out the many disappointed shareholders until out of the blue the larger traders of CCE decide to start cashing in again. Therein lies the risk I suppose.
CCE Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
