For the technical analysis buffs amongst us, CBD SP moved above 40 day simple moving average line, when it crossed above 10.5 c early in February. That has been a favorite signal of mine of late, as an entry point or signal to increase position. Currently it is sitting comfortably above the 40SMA. That is what I call positive territory.
40SMA cross would be an ideal time to buy, but judging from the previous swings, there should still be few cents to go and so entry, even at the current levels could be profitable.
Fundamentally, 1HY results to be released latter this month, should confirm the optimism expressed in 40SMA, IMO.
CBD Price at posting:
12.5¢ Sentiment: LT Buy Disclosure: Held
