Not sure I particularly understand squiggly lines on charts.. but...
The news today seems positive into the medium term, and market has at least initially responded well. CCL looks like it is 'putting out the trash' this quarter, particularly with the Indonesian impairment. This seems relatively small in the scale of things. The good news coming is that sales volume is actually down less than perhaps many people expect - though I think in August the margins / profit will be down significantly more than volume percentages due to the substitution toward lower-margin supermarket in particular.
Though does go to show, the lockdowns e.g. Victoria are having significant short term impacts on CCL. Could be some more opportunities to buy-in at discounted prices.
CCL Price at posting:
$8.91 Sentiment: Buy Disclosure: Held
