Forum Archive Index - May 2001

["Peter Maiden" <pmaiden@xtra.co.nz>]

Gerry - I've had another look at the CLH (Collection House) chart.

 

All numbers in Aust cents

 

The rising trend line that I mentioned in my earlier post has continued.

 

Since that post in March the CLH price has gone from 380 to a recent high of 480. The rise has been faster then I predicted back then. Going from memory I said it could get to 450 by June!.

 

Have a look at the chart yourself - there has been a series of successively higher low-prices. This is the sign of a rising trend and can be thought of as a rising support level.

 

The CLH rising trend has not developed any real levels of resistance. There has been a series of new highs at 362 (Feb 6), 390 (March 2), 441 (Apr 17)  and 480 May 10). The 480 on May 10 was in my view a bit of a of an over shoot and not surprisingly the price fell back a little. However it has subsequently recovered to this level.

 

There is no reason to suggest that this rising trend will not continue for some time -esp when you look at the fundamentals (as per your posts) of the company   

 

By the end of the year - somewhere between 675 and 700. This would give a 40-45% increase over last weeks close.

 

Cheers

 

Peter