CDA – Codan Limited

Stock : CDA – Codan Limited

Current Price : 2.39

Status : On Watch

Company News : http://www.codan.com.au/Investors/Announcements/tabid/1377/Default.aspx

CDA is holding some nice price structure with higher lows supporting the trend up. We see that price spiked up and through 2.45 and then was rejected. We are watching closely the price action over the next few days to see if price pulls back and buyers step in to build those all important higher lows above the 2.25 level. It seems that some heat has to come out of the market before a new leg through highs.