is trying to find support

Being watching CPU market depth this morning it looks to be forming a base around $1.70 area could head to $1.65 as a large seller is trying to exit but lots of accumulation going on at this point.
RSI on 14
For the conservative player CPU IMD at 26cents gives you to 2003 for any upside

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ABOUT COMPUTERSHARE

Computershare (www.computershare.com) is a leading financial services and technology provider for the global securities industry, providing services and solutions to listed companies, investors, employees,
exchanges and other financial institutions. It is the largest and only global share registry, managing more than 68 million shareholder accounts for over 7,500 corporations in ten countries on fivecontinents.
It also provides sophisticated trading technology tofinancial markets in 14 countries across each major time zone.

Founded in Australia in 1978 and headquartered in Melbourne,Computershare today employs more than 5,000 people worldwide.

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CPU
Business Description
Computershare provides technology systems and services for the international securities industry. Its core services comprise the provision of stock exchange and broker systems, registry bureau services and professional share registry services.


Company Strategy and Prospects
(Last Update: 22 April, 2002)
CPU posted a 1% increase in EBITDA to $73 million for the six months to 31 December 2001, despite the increased revenue of 56.9 million. The increased revenue was nearly offset by an increase in operating expenses. Despite the achievement in cost efficiencies and head count reductions for registry operations, operating costs still grew by 54.3 million or 20% over the pcp. The increase in expenses mainly accounted for an increase in direct services expenses of 36.4 million and a significant increase in technology investments for establishing the SCRIP system in the North American and Hong Kong of 16.8 million.

Computershare has been pursuing growth via acquisition and alliance on a global basis. Targeting expansion in Europe, in December 2001, Computershare acquired a 49% stake in a new joint venture that will provide their computerised share registry system SCRIP to Deutsche Borse's clients for trading and other services in Germany. It is intended that these services will later be provided to other Europe.

In November 2001, Computershare announced that its majority-owned South African business has, subject to regulatory approvals, agreed to acquire the securities business of Mercantile Lisbon Bank Holdings Limited in South Africa.
Substantial economies of scale are expected to be derived by the merging of new businesses with existing operations.


Analysts continue to forecast strong growth. On a PE multiple of 20, Computershare is undervalued based on the Aspect Model.