Picked up a small parcel 2 months ago at
$20.84 thinking that I had bought at its peak but given its overwhelming performance this year due to the demand and expansion of the e-commerce platform, I personally see this company hitting the $28-30 mark by Christmas.
Kogan has established its online presence, projects strong financials and I would even say that it has a competitve advantage over its competitors
(Amazon, Ebay etc.) in the context of diversifying its product offerings
(Kogan mobile, internet, energy, insurance etc) knowing that the major disadvantage it suffers is due to the competitiveness of lower prices.
A strong and dominant player in online retailing, pays a cheeky dividend which makes it a strong and well-thought out buy or hold for future years to come. I would say a good entry point would be around the
$19-21 mark as it is likely to consolidate around this area before it takes off again in Christmas.
$21 seems like a clear area of value which acts as support which could very well break through and become resistance in the short-term. It may also retest previous levels of support around the mid
$19-18 mark. Here's a short chart analysis of Kogan, I am by no means a charting expert and would love for criticism and feed-back.
I would also like to add that this sell-off is extremely healthy IMO, as it gives some breathing room and a chance for it to consolidate around those ranges and discover new areas of support and resistance for the next bull-run. Given that Kogan has already experienced a 600% growth since its March lows, this is nothing we should be worried about IMO.
As always DYOR, nothing I say should be taken as financial advice.
(20min delay)