STTCOMP CDG, TA Long
(ASX: CDG)
SP: 7c ASX
MC: $27.27 Million
Shares 360.3Million
Options: 17.5Million
Top 20 shareholders 52.6% and Board holds approx. 20% (Fairly tight register with not only the Board having skin in, but also some significant shareholders such as HSBC Custody Nominees at no.2 in the Top 20 (as at 11 June 2016
CDG chart is looking a little more interesting as the end of a large ascending triangle is edging closer. There have been another two share price highs since it broke out around midish April (please refer on the chart to the grey arrows. Now whilst the share price has been subject to selling pressure post mid-late July there is now a chance that with some more volume coming in, that another breakout may occur. One of the indicators that buoys me is that yellow rising trend line where the sp bounced off in early July. Given the amount of time the pattern has taken to form and assuming that there is an upside breakout, it could be decent. Not much in the way of overhead resistance, so don’t think that it would take much for it to take out those levels. Keep an eye on volumes. FY16 is due.
Please DYOR as this is not a buy or sell recommendation
Cheers
GF
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