Is it all that unexpected? Good news has been a trademark for this stock but todays ann has been substantially better than anticipated. The market reaction though is close to what I would predict. A euphoric high followed by consolidation as profit takers move in. This profit taking may keep the prices down for a while but sooner or later the market will begin to recognize the emerging value in this stock and the price will lift.
CVN reached an intraday low today of 65.5c at around 11.15. I see this as marking the end of the initial profit taking phase.
Since then, trading has been at low volumes and the price is lifting slowly. As more investors begin to see the underlying value in this stock, the price will continue rising. Imo the sp will reach 80c within two weeks.
Close to 15M shares have traded so far today and there seem to be about 3M in the queue below today's open of 69c. There is every chance the sp will climb back past 69c today and it may even close on another all time high.
CVN is an extraordinary stock and I have every confidence it will reward patient investors.
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Last
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $286.2M |
Open | High | Low | Value | Volume |
15.5¢ | 16.0¢ | 15.5¢ | $93.18K | 583.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 354802 | 15.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.0¢ | 55498 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 254802 | 0.155 |
14 | 402173 | 0.150 |
14 | 292453 | 0.145 |
4 | 387714 | 0.140 |
4 | 462005 | 0.135 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 55498 | 2 |
0.165 | 305500 | 4 |
0.170 | 1651292 | 14 |
0.175 | 1385226 | 15 |
0.180 | 1255701 | 12 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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CVN (ASX) Chart |