Buyers soaking up the selling pressure building for a move up

New Buy Entry Alert CDA

 

Time Frame : Daily/Weekly

Sector : Technology Hardware and Equipment

Key Stats : $514.97 Million Market Cap, VWAP 2.919, ASX Ranking 348, 4 Week Av Turnover $372,038, PE 13.8, Div Yield 2.77%.

Company Overview : Codan Limited (CDA) designs and manufactures a range of electronic products and associated software to governments, businesses, aid & humanitarians and customer markets. CDA has manufacturing and corporate offices in Australia and Canada, with overseas representative offices in USA, UK, Ireland, China, United Arab Emirates and India. CDA’s three main products are radio communication products, metal detection products, and mining technology.

Broker Consensus : Buy

 

CDA – Codan Limited

CDA is ready to fire as buyers hold price up at higher levels and soak up the selling pressure. We are happy to buy on a push up through 2.99 and hold the stop loss at 2.76. If price pushes below 2.76 prior to entry, we will re-assess the price action.

 

Stock Code : CDA – Codan Limited

Company Website : www.codan.com.au

Current Price : 2.93

New Buy Entry Level (Trigger Level) : 2.99

Potential Sell Exit Zone (Stop Loss) : 2.76

Status : On watch for a buy entry trigger