CDA - Codan Limited

[Garpal Gumnut]

Creeping along in these obscure and doubtful days. Good day for Chalice Mines (CHN) so sold 1,000 of those at market for avg 6.19 and bought 1,000 CDA @ 3.76
Cheaper price than director buying a month ago anyway.
I have to fence-sit and say that the chart is ambiguous to me, the ice might be cracking below but on the other hand volume is low and daily momentum is mildly encouraging. I must say again that I don't recall any other stock bottoming like this, so for all I know, maybe down to 3.50 (or worse)?

Daily
View attachment 150244

Just from the chart, @finicky , I am not optimistic.

gg

 

[MannyTheMemmoth]

I guess Feb half year result or any profit downgrade/upgrade before Feb result will make or break. Right now it's following the market and fluctuating around 3.7 - 4 mark.
They very well could be wrong in their forecast and may upgrade or downgrade in Jan?

 

[finicky]

Just from the chart, @finicky , I am not optimistic.

Me neither must admit

 

[MannyTheMemmoth]

Yes, looking bad for now, will wait for Feb results.
But I had seen their whole presentation few weeks ago, again. It did not look as bad as the stock price is, but the management was not interested in answering anything related to stock price and were not too keen to listen to share holders suggestion for marketing Codan better and why don't they reach out to Australia army to sell more to which his summary was it's tricky and lengthy dealing with govt and not worth the time. Sorry that's my interpretation, I am not that smart.

 

[sptrawler]

My guess is ATM the last thing on peoples minds is going metal detecting.
Underground communications is going to be the go to growth, how is codan going with that technology?

 

[finicky]

Underground communications

Haven't checked properly but I think that's the defunct Minetec division that you're referring to and that was sold off to Caterpillar. l don't think they made anything out of it; they expressed high hopes for that technology once, saying it would be like a third pillar of Codan.

 

[finicky]

Last year there was a trading update on 25 Jan and then H1 result was 17 Feb.
With this thing I've got for Codan, I doubt that I can wait that long.
On Friday the biggest volume came after market and made the high of the day. Might mean something?

Held

15 minute chart

 

[MannyTheMemmoth]

I too saw that upside volume on Friday close and it did feel a little unusual specially when you compare with overall stock market but it is too early and volume was not that significant, higher then recent days but still not high enough to draw anything, if the momentum goes up next week, may be something's cooking.

 

[Garpal Gumnut]

Last year there was a trading update on 25 Jan and then H1 result was 17 Feb.
With this thing I've got for Codan, I doubt that I can wait that long.
On Friday the biggest volume came after market and made the high of the day. Might mean something?

Held

15 minute chart
View attachment 150601

Could there be a capital raise in the wind?

gg

 

[MannyTheMemmoth]

Going by last few weeks, seems to be bottoming at 3.7, 3.8 for now? January/Feb update, make or break?

 

[finicky]

Looks interesting, been watching it too - I would normally be adding a few on a pulllback, assuming there'll be one. Looks better on a daily chart (with strong momentum divergence) than on a weekly. 10 day chart has trended strongly. I'm trying not to lower my cash.

Held

10 Day, 15 minute intervals

 

[Knobby22]

Looks interesting, been watching it too - I would normally be adding a few on a pulllback, assuming there'll be one. Looks better on a daily chart (with strong momentum divergence) than on a weekly. 10 day chart has trended strongly. I'm trying not to lower my cash.

Held

10 Day, 15 minute intervals
View attachment 150808

Kogan has taken over Brosa, E commerce furniture business that had gone broke for only $1.5 mil.
I think that may be the reason for the rise.

 

[Dona Ferentes]

Kogan has taken over Brosa, E commerce furniture business that had gone broke for only $1.5 mil.
I think that may be the reason for the rise.

Got a rise from me

 

[finicky]

Um .. ?

 

[MannyTheMemmoth]

Today's upside was in accordance with market or something more to it?

 

[finicky]

@MannyTheMemmoth a good close for the week. Easily beat the indices today, e.g small ordinaries (XSO) was only up 0.95%. Trouble is the volume for CDA which reveals lack of sellers rather than strong buyer interest. Still apprehensive about the price chart. Lost trust in management's transparency.
I've decided to take a cue from Felix Zulauf who can be found with a search on Youtube - I am trying to hold off buying anything in the expectation of a poor first quarter. He thinks the rest of 2023 should be good for U.S stocks as he expects the Fed's hand on rates to be forced. If I miss out on more CDA so be it.

Held

 

[MannyTheMemmoth]

339900 after hours sale, is this Anything significant?

 

[rcw1]

View attachment 151326
339900 after hours sale, is this Anything significant?

Good afternoon MannyTheMemmoth,
Just check announcements for CDA on your platform tomorrow and see whether it was a 'Charge in Directors Interest'. Note that there has been a number of instances in November 2022.

Have a very nice weekend.

Kind regards
rcw1

 

[finicky]

No, note the overall volume for the day isn't exceptional.
LT XT means late cross trade. I don't really get it, but It's probably something to do with brokers tidying up closely matched bids and offers after close on Friday, the last day of the week. Stop jumping at shadows.

 

[peter2]

I'm eyeing a reversal BO opp with CDA on a close > 4.20.