Technical View With an increase in US-sourced revenue, CPU is another stock that should benefit from further gains in the US market.
We last reviewed CPU in mid-March, placing a Buy recommendation and an $11 target on the stock.
It has just overshot our target level and looks destined to advance further.
Momentum remains positive and volume has improved dramatically over the past few months. Both point to continued upside.
The price action since the February high can be construed as an ascending triangle. If this interpretation is correct, then the stock can move towards the $12.50 area.
We maintain the BUY recommendation.
CPU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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