CGF - Challenger Limited

[Lachlan6]

Re: CGF - Challenger Financial Services Group

Hello Julia. Well purely from a technical perspective, CGF is looking a little sick at the moment. What could be interpreted as a double top pattern is looking like possibly unfolding. However, support at $3.55 would need to be broken, before CGF would be a sell. CGF has been a successful stock since listing in 2003, rising from around $2.50, to the all time high of $4.21 in September last year. However, CGF's subsequent fall and rise back up failed to make new ground and break the old highs, a negative for the stock.

This support at $3.55 is important however for two reasons. The aforementioned one, but also because this is where the long term uptrend line is currently and hence a break of this would signify a start of a down trend. OBV is still holding up on the weekly chart, but for CGF to turn its story around, support needs to hold coupled with a rise to new highs. If I were you, I would be watching the situation very closely, unless you are in for the long haul

 

[Julia]

Re: CGF - Challenger Financial Services Group

Hello Julia. Well purely from a technical perspective, CGF is looking a little sick at the moment. What could be interpreted as a double top pattern is looking like possibly unfolding. However, support at $3.55 would need to be broken, before CGF would be a sell. CGF has been a successful stock since listing in 2003, rising from around $2.50, to the all time high of $4.21 in September last year. However, CGF's subsequent fall and rise back up failed to make new ground and break the old highs, a negative for the stock.

This support at $3.55 is important however for two reasons. The aforementioned one, but also because this is where the long term uptrend line is currently and hence a break of this would signify a start of a down trend. OBV is still holding up on the weekly chart, but for CGF to turn its story around, support needs to hold coupled with a rise to new highs. If I were you, I would be watching the situation very closely, unless you are in for the long haul

Hello Lachlan,

Thank you. Appreciate your comments.

Julia

 

[GreatPig]

Re: CGF - Challenger Financial Services Group

A current chart for CGF.

It's had good growth from Sept 04 to Sept 05 but has been flat since then, from a long-term hold point of view.

It currently seems to be finding support around $3.60, and I think if I was holding the stock right now, my sell point would be just below that. However, even if it didn't fall below that, I would want it to start heading up again soon, otherwise my money would be better utilised elsewhere.

Not falling is one thing, but there's also the opportunity cost to consider.

Cheers,
GP

 

[Julia]

Re: CGF - Challenger Financial Services Group

A current chart for CGF.

It's had good growth from Sept 04 to Sept 05 but has been flat since then, from a long-term hold point of view.

It currently seems to be finding support around $3.60, and I think if I was holding the stock right now, my sell point would be just below that. However, even if it didn't fall below that, I would want it to start heading up again soon, otherwise my money would be better utilised elsewhere.

Not falling is one thing, but there's also the opportunity cost to consider.

Cheers,
GP

GP

"but there's also the opportunity cost to consider"
Yes, indeed.

My apologies. I hadn't realised there was a CGF thread so I included comment on it within the current GTP discussion.

Thanks again for your input.

Cjeers
Julia

 

[Lachlan6]

Re: CGF - Challenger Financial Services Group

Bad day today for CGF. It has fallen through crucial support and may now be open to a good CFD short trade. I'm opening my account on Monday with FP Markets so may just do so. As I said in my last post re CGF, next support is 50% retracement at around $3.15.

 

[Julia]

Re: CGF - Challenger Financial Services Group

Sold this 28.3.06.

Julia

 

[BraceFace]

Re: CGF - Challenger Financial Services Group

Sold this 28.3.06.

Julia

Ditto, once got to 3.50 it was time to bail.
Not looking too good at the moment.
Time to channel funds into resources sector methinks...

 

[marc1]

Re: CGF - Challenger Financial Services Group

good morning all
Does anyone have any interest or hold cgf ?
At last, some price and volume movement in the right direction last week.
Would appreciate any tech thoughts on the stock or general comments.
Holding at moment 6.5k @ $3.25.
cheers a newie.

 

[theasxgorilla]

Re: CGF - Challenger Financial Services Group

My "law of inverse interest" is working well for CGF. 30% in 3 1/2 months from an ASXMidcap50 and still no posts since November last year, keep it up

Anybody know WTF happened this morning???

 

[kooka873]

Re: CGF - Challenger Financial Services Group

Yes all quiet on this one, but SP doing nicely - my patience of the past 5 years is now justified - finally. I expect Mike Tilley will be handsomely rewarded to with bonus as a result of SP rises. Well known defence lawyer Mr Murphy was pushing the positive aspects of the company at the 2005 AGM & bagging the critics.

Kooka

 

[mrgroundwork]

Re: CGF - Challenger Financial Services Group

anyone still holding this... i got margin called out of my position back in august 07 on this... hurt like hell at the time, but considering current SP it was a blessing in disguise...

anyone explain to me why this has copped such a battering aside from the obvious (ie sentiment towards the sector)

 

[agro]

Re: CGF - Challenger Financial Services Group

anyone still holding this... i got margin called out of my position back in august 07 on this... hurt like hell at the time, but considering current SP it was a blessing in disguise...

anyone explain to me why this has copped such a battering aside from the obvious (ie sentiment towards the sector)

this is old news (10/03/08) but thought i might paint the picture for fellow members:

SYDNEY (Dow Jones)--Cardiac Jolt Pty Ltd., which is linked to Sydney lawyer Chris Murphy, said Monday it has sold 15 million shares in Challenger Financial Services Group Ltd. for A$25.5 million.

Traders said there was speculation that existing Challenger shareholder and director James Packer may have bought the shares. Packer already holds a 20.6% stake in Challenger, through his private investment vehicle, Consolidated Press Holdings. The Bank of Tokyo-Mitsubishi UFJ Ltd. is Challenger's second-largest shareholder, with a 6.4% stake.

A spokesman for Consolidated Press Holdings was not available for comment.

Speculation that Packer had increased his holding, and short-covering boosted Challenger Financial shares, traders said.

At 0255 GMT, Challenger Financial was up 16.3% at A$1.86.

"That's why the stock's running, because people think Packer's throwing some money at it," said Goldman Sachs JBWere senior institutional trader Patrick Crabb.

A Challenger Financial spokeswoman declined to comment.

The Australian newspaper reported on its Website that Australia and New Zealand Banking Group Ltd. (ANZ.AU) exercised a margin call on Murphy's shares at A$2.50 a share. A spokesman for ANZ declined to comment and Murphy was not available for comment.

Prior to the share sale, Cardiac Jolt owned 28.6 million shares, according to Iress. The share sale notice sent to the Australian Securities Exchange by Cardiac Jolt was signed by Chris Murphy.


-By Lyndal McFarland, Dow Jones Newswires; 61-2-8235-2957; lyndal.mcfarland@dowjones.com

 

[mrgroundwork]

Re: CGF - Challenger Financial Services Group

yeah i figured something like that would be the case... has probably been hit by th3e short sellers too... just suprising that this shares fall from grace hasn't received anywhere near as much publicity as all the other financials...

 

[agro]

Re: CGF - Challenger Financial Services Group

i sold... at a loss why did i get into the financial sectors knowing whats going on atm!!

never the less..

after i sold hugggggggge selling

3 million seller at 2.00!!! whoa

next allco maybe?

 

[rhen]

Re: CGF - Challenger Financial Services Group

The OBV (with MA) is positive.
First appearance of a technical buy (for me at least) occurred earlier (in July). It may be developing a positive trend from its "bottom"?? in March...certainly a simple view of volume shows positive interest may be returning. Other indicators I've used confirm a short term trend may be in place.
I do not own any CGF...but this may change.

rhen

 

[Glen48]

Re: CGF - Challenger Financial Services Group

My Mother has some loot with challenger and ideas on what she should do?
Leave it there take out some take out all of it???

 

[willemrt]

Re: CGF - Challenger Financial Services Group

My Mother has some loot with challenger and ideas on what she should do?
Leave it there take out some take out all of it???

Well, they turned a profit in this environment!

http://www.moneymanagement.com.au/article/Challenger-still-in-black/438155.aspx

 

[Prospector]

Re: CGF - Challenger Financial Services Group

Well, they turned a profit in this environment!

http://www.moneymanagement.com.au/article/Challenger-still-in-black/438155.aspx

That's because their interest rates on mortgages are now much higher than the Banks, and they take weeks longer to implement the rate reductions. I have two mortgages for an Investment Property with Challenger, I have now refinanced with NAB because they are now so much more competitive. So in the long term their customers might disappear as people move towards the banks.

 

[So_Cynical]

Re: CGF - Challenger Financial Services Group

The CGF share price seems to be on a bit of a downer lately, even though the 1 year chart don't actually look that bad :dunno:there seems to be alot of interest around the 3.50 mark so maybe im seeing things...and the down turn is just general negative market sentiment for the financial's.

Anyone have an opinion..anyone following CGF
~

 

[Boggo]

Re: CGF - Challenger Financial Services Group

Anyone have an opinion..anyone following CGF
~

I don't have an opinion as such other than it seems to be at a significant point at the moment and has popped up in my ABC scans over the last few days.

From this type of charting perspective it looks good IMO.

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