CDA - Codan Limited

[finicky]

CDA @ 7.37
Dicey looking for CDA with this severe down move. I believe a rising wedge is a bearish pattern and it has now broken below. On the other hand it has not broken the uptrend made since January. I feel there's a bias to the downside but we will see. Have to fence-sit until it resolves. Fair bit of profit for the trading fraternity to protect from the rally since December (bearish imo)

Held and holding

DAILY

 

[MannyTheMemmoth]

CDA @ 7.37
Dicey looking for CDA with this severe down move. I believe a rising wedge is a bearish pattern and it has now broken below. On the other hand it has not broken the uptrend made since January. I feel there's a bias to the downside but we will see. Have to fence-sit until it resolves. Fair bit of profit for the trading fraternity to protect from the rally since December (bearish imo)

Held and holding

DAILY
View attachment 159983

Reminds me of July last year, will watch out for any big volume sell off without news.

 

[MannyTheMemmoth]

At trading halt this morning, let's see what comes out of hat.

 

[finicky]

Gwowth by acquisition (we hope)

 

[mullokintyre]

Gwowth by acquisition (we hope)

They are going to buy New Zealand.
Originally were looking at Tasmania, but its overpriced.
Mick

 

[galumay]

They are going to buy New Zealand.
Originally were looking at Tasmania, but its overpriced.
Mick

That's why its the UK, basically free post Brexit.

 

[frugal.rock]

They are going to buy New Zealand.
Originally were looking at Tasmania, but its overpriced.
Mick

That doesn't make sense, as they would be waiting for regulatory approval from China, not the UK.
Back to the Tasmania option, just the southern part though.

 

[finicky]

Trading update released after hours.

NPAT FY23 of $65m is spot on expectations here but will there be a knee jerk market reaction tomorrow against NPAT being down 35% on FY22, due to the slump in metal detection revenue? Metal detection revenue improved a little in the second half.

Held and holding

 

[divs4ever]

am weighing up the mentioned geo-political risk is this the entry i need to jump in ??

in recent years i avoided Africa like the plague , however as other areas progressively lose their minds the risk profiles are leveling out it is only a matter of possible rewards for risk taken

Africa is just about ready to catch fire .. is this the right time to get set early for a long painful recovery

not held , currently

 

[galumay]

Quite possible @finicky, given that CDA have not provided any guidance for the full year previously, due to the uncertainty around various segments. The thing I am most interested in is the cash flow, it had certainly started to normalise so looking for that trend to continue.

 

[galumay]

LOL! Shows how little we know, @finicky!! Up over 1% on a very red day on the ASX.

 

[galumay]

...make that 6.5%!! Crazy.

 

[finicky]

After a dip the wick is lit
And then a fulmination

2 DAY 15 MINUTE

 

[galumay]

Maybe! (charts are just gobbledygook to me.)

 

[finicky]

I s'pose you don't believe in tea leaves reading as well

 

[galumay]

Sorry mate, not big on the tea leaves either! I did have crystal balls once, but that's another story. I suspect we can both agree that predicting the moods of Mr Market is pretty damn hard, nothing in that update implies the business is worth an extra $100m, but here we are.

 

[finicky]

As we've seen, CDA has a tendency to get both highly overvalued and undervalued. I'd prefer not to be in the position again of feeling I almost have to sell it because it's too high.

 

[divs4ever]

I s'pose you don't believe in tea leaves reading as well

oh i believe in tea leaves , they get stuck in my teeth , but i don't know how to interpret them , just how to floss

 

[mullokintyre]

Sorry mate, not big on the tea leaves either! I did have crystal balls once, but that's another story. I suspect we can both agree that predicting the moods of Mr Market is pretty damn hard, nothing in that update implies the business is worth an extra $100m, but here we are.

crystal balls eh, akin to a glass jaw and tennis elbow.
mick

 

[divs4ever]

As we've seen, CDA has a tendency to get both highly overvalued and undervalued. I'd prefer not to be in the position again of feeling I almost have to sell it because it's too high.

sell , not reduce ??

it is not as though it is a hopeless case , there may be headwinds but management is still dealing with the problems it can influence internally ( not much you can do in the geopolitical area , given that is where a lot of future exploration will happen )