Given we are all going to be OZL shareholders from September I thought I would take a look at the OZL chart. I've had OZL on my watchlist for eons but have decided against holding because I figured there was more upside with CZI.
I like to look at the Coppock indicator (curve) on the monthly chart for a long term overview of the share price. Interestingly, there has been a divergence between the share price and the coppock on the OZL chart since early 2017. So while the price has been modestly grinding its way up in recent years the Coppock indicates that the market sentiment behind the stock has not been bullish.
The Coppock indicator gives a positive signal when it turns positive from below zero and this bullish signal is confirmed if it continues to trend upward across the zero line. At this stage we can't tell whether the Coppock curve has bottomed for OZL but one way or another the divergence will correct.
Quoted from elsewhere:
"Created by Edwin Coppock. Designed to signal when stock market "mourning" would be over following a crash in it's price. This period was thought to be between 11 and 14 months as this is how long church leaders advised Coppock that it took for a person to get over the death of a loved one."
CZI Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
