Have taken a long position in Carsales as i think we have seen the low in the near term.
Having a look technically iam quite encouraged by the fact that the MACD has crossed positive, the first time since rolling over at $15.60. The RSI has moved out of oversold territory, sub 30, after sometime spent in this zone. Also seeing the Stochastics move out of oversold territory.
It would of been good to see the short term price momentum continue and push through short term (15 day MA) at $12.21 in line with the market moving higher today, however it looks as though the whole media / tech sector is under pressure today.
Looking for an initial move to $12.90 and $13.20 in the short term. On the flip side, if we see a two day close below $17.70, iam out.
Having a quick look a the weekly chart, I note the stock is oversold in the RSI and would like to see it close above the 200 week MA at $12.12 by the end of the week...
Broker consensus numbers post reporting and AGM look alright, with an average price target post revisions coming in at $15.00. Only concern is the EPS revision for 2019 coming back to $0.595c/ps and the subsequent share price move, whether the share price move lower is enough to re-adjust for future expectations...
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Last
$37.00 |
Change
-0.130(0.35%) |
Mkt cap ! $13.98B | |||
| Open | High | Low | Value | Volume |
| $37.04 | $37.13 | $36.28 | $38.79M | 1.053M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 641 | $37.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.09 | 574 | 1 |
View Market Depth
| Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
| CAR (ASX) Chart |