I'm a bit wary of the sustainability of yesterdays spike - especially in light of any further tax loss selling next week.
CLV's price plumetted to a low of .14 following a pretty ordinary 1/2 yr report in March. Following this,the opening of a new soy plant and some directors buying have fuelled a couple of minor rallies which were good short term trading opportunities but nothing more.
Yesterdays spike looks like a classic technical bounce from a low base.
Maybe another trading opportunity there but as I mentioned we still have some days left before the financial year end and I would have thought CLV would come under more selling pressure till then.
Tight stops imo. Cheers
CLV Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
