CCV - Cash Converters

[pavilion103]

This is the weekly. Some consolidation after the huge volume period. Continues to trend up nicely. Nice little tight triangle before the most recent break. This week really stands out on the chart. Nothing that quite resembles it previously.

I bought at $1.335 and my stop is now at break even.

 

[ROE]

This business owned the market it operates in, there is no real competitor for its business so it stands to capture a fragmented market...and the market is still young....there are plenty of room for it to grown earning for many years left...

the longer you hold the richer you get..

Those panic and sold out last year at 50c probably made one of the biggest plunder in their investment journey.

 

[pavilion103]

Another really good day today. We'll see how the week plays out. I know most are probably long term holders but if I get time I'll post some charts of my own analysis as it happens.

 

[richbb]

CCV today closed down 2c at 1.38, with today's open of 1.38 it formed a bullish doji star. We'll expect CCV's correction is over and tomorrow could prove that.

Happy trading, do your own research.

 

[pavilion103]

I'm still in with a stop around 1.33.

As a shorter term trader,annoying to give so much back but hopefully it moves up now.

 

[richbb]

I'm still in with a stop around 1.33.

As a shorter term trader,annoying to give so much back but hopefully it moves up now.

Yes, me too. I was too late, only sold part of my holding at 1.455. Now I've bought back at 1.38 and 1.405 respectively, waiting for the price recovering.

 

[pavilion103]

Back at 1.44 early this morning

 

[richbb]

Back at 1.44 early this morning

Wonderful run so far for today, it resumes up trend from today? I guess so, next target 1.57!

 

[bigdog]

CCV is going great

52-wk High 1.5650

52-wk Low 0.5250

Been with CCV since December 2010 and watched them go lower when the govt wanted to make changes
-- one of my better buys!!

1892

 

[rbgmauq]

CCV has found support at 1.26. Would like to see a break above 1.565. According to au.stoxline, from the relationship between price and moving averages, It looks good in both short term and mid-long term.

 

[Boggo]

CCV has found support at 1.26.

Yep, similiar area on the weekly.

(click to expand)

 

[DocK]

I bought some CCV at 1.06 in Jan - noticed they dropped substantially today, although recovered somewhat from their absolute low. There's a news item about a pensioner suing them for not complying with the responsible lending provisions http://www.bankingday.com/nl06_news_selected.php?act=2&stream=1&selkey=14669&hlc=2&hlw= .
Is today's fall a bit of an overreaction on a day when the market as a whole was being sold off? Technically the stock is still making higher highs and higher lows so the uptrend remains in place, but I'm reluctant to give much more profit back if today's weakness wasn't a knee-jerk reaction. Thoughts?

 

[pavilion103]

Look at today's bar and then look at:

07 MAR 13
22 JAN 13
27 NOV 12
17 SEP 12

 

[VSntchr]

Look at today's bar and then look at:

07 MAR 13
22 JAN 13
27 NOV 12
17 SEP 12

Dont know much about technical analysis but just had a look and seems to be a recurring pattern.

Regardless, I got lucky enough to log on today at work and get EVEN MORE ccv for what I believe is a good price

 

[DocK]

Thanks for the comments - reinforces my decision to hold based on the fact that it closed well off its lows for the day. I hadn't identified that particular pattern, pavilion103, even though I was filled on just such a day - 22 Jan 2013 Funny how a pattern can seem so obvious once somebody else points it out to you - thanks for the tip

 

[pavilion103]

Not a strong day so far. Was interested to see if it would react similar to the days following those previous bars.

I was stopped at 1.36 yesterday anyway. Disappointing to give back most of my open profit but that's the way it goes sometimes when trying to capture a decent move.

 

[Boggo]

Am in a good position on this stock, giving it room to move so my stop set to trigger if below $1.25 in the last 5 minutes of trading based on weekly chart.

 

[VSntchr]

Company wise we have had confirmation of growth via the half yearly stellar result and further confirmation of potential growth with the use if the securitisation facility.

And the SP is approx where it was prior to these announcements...i love the volatility in these type of stocks!

 

[pavilion103]

Finishing the day strong.

The volatility is crazy! Lets see if it keeps moving up. I'll keep an eye on it.

 

[richbb]

Last Thursday's (18/4) huge fall was a big surprise, and the recovery of the same day was also amazing. I've bought more at average of $1.27 last two days, waiting it's price for further recovering.

Interestingly, in May's Smart Investor magazine, there were two articles about CCV:

Page 24 The 10 best value stocks on the ASX; Page 58 Snapshot Stocks.

Coming Monday for CCV is an up day for good chance, with whole market is recovering and the Magazine's comments.

Good luck for all CCV shareholders. God bless us!