Seem to recall that Garpal Gumnut had an Elliot wave target of around that amount some time prior to the meltdown.
Hope that you are on the money.
GG, any comment from your charts?
In my opinion and from my analysis only, I use the high at 80c made in May 2008 and the low at 23c in Nov 2008 and its return to 80c in May 2009. Its a U shaped chart. From a book I've read there is a chance that the projected price target is the high subtract the low, plus the high. In CVN's case it would be 80 - 23 = 57. Then, 57 + 80 = 137c or $1.37. So heres my shortish target that will probably be by the end of the year.
My analysis only. Have a plan if you want to play out this theory, but at your own risk. CVN is still very promising in my books!
damn. i jumped ship at 0.795quarky said:i did the same.
i jumped out yesterday, after holding for over 1.5 years.
damn. i jumped ship at 0.795
it's up to 0.83 right now.
definitely broke through resistance levels of 0.79 - 0.80
wish i had more patience and a crystal ball...
could have made a bit more.
wonder how far the ASX, POO and CVN can go, considering all the skeptical and cautious talk about the economy, etc.
whoah... $1.08+ predictionsBought at 41, sold at 58, bought again at 60, trailing with a stop of 10c below the previous close.
One view of it below...
Just my
(click to expand)
We know it is a really good stock ...why not leave it there for another year or two ? Just my view ,and I've held this stock for several years , and will cash it when it really has reached its potential
Wow the stock is really launching today touched 0.860 with little pullback... Interesting to see if the stock stays supported at the .80 mark over the next week.
Loving these volumes right now!!
Probably going to see a few Friday arvo profit takers in the next hour to close, usual stuff on stocks that are on a run up.
Bought at 41, sold at 58, bought again at 60, trailing with a stop of 10c below the previous close.
One view of it below...
Just my
(click to expand)
Probably going to see a few Friday arvo profit takers in the next hour to close, usual stuff on stocks that are on a run up.
Man, some bold predictions being made on this one, is it just me or does it not seem a bit overcooked to anyone else?!
If you look at a 2 year chart its sufferred some pretty mean pullbacks, .75 to .35, .80 to .25. And that was in a much friendlier economic enviroment with oil at twice the price.
Sure theres been more discoverys but still seems a bit of a stretch to say its gonna just keep on skyrocketing up.
Thats just my opinion tho & i'm often wrong so maybe just keep on buying it up!
Man, some bold predictions being made on this one, is it just me or does it not seem a bit overcooked to anyone else?!
If you look at a 2 year chart its sufferred some pretty mean pullbacks, .75 to .35, .80 to .25. And that was in a much friendlier economic enviroment with oil at twice the price.
Sure theres been more discoverys but still seems a bit of a stretch to say its gonna just keep on skyrocketing up.
Thats just my opinion tho & i'm often wrong so maybe just keep on buying it up!
That's a good point, however I think it's worth taking a look at the volumes - with regards to the 0.80 to 0.25 pullback I assume you're referring to the period May 08 to Dec 08 roughly? At its 0.80 peak on May 16th, weekly volume stood at about 24.71 mil. In the fortnight leading up to the peak, weekly volume remained at roughly the same levels.
Fast forward to today, volumes in the past few weeks have oscillated between 20 - 40 mil. Given that the weekly volumes have almost doubled and have remained relatively sustained, I think that's an encouraging sign that perhaps this time there's enough support to remain above the 0.80 mark a little longer and perhaps even push on higher.
Yes I so agree with all you have written
i did the same.
i jumped out yesterday, after holding for over 1.5 years.
took a handsome gain, but had to risk a lot of money for it.
besides, i was wanting to enter the real estate...but CVN kept me out of that, due to the pool of $$$ i had in there... my best, and only, performing stock in my portfolio (which i'm losing 60-80% of value)
waiting for that re-trace...
i've had a SELL for 0.795 for a few days and found it hard to sell.
finally, it went through yesterday...and i knew something is on the horizon, i.e. new oil discoveries, POO, etc.
taking that into account, i've always noticed mid-year, profit-takers sell and slow down the market. so, hoping that this would happen...i sold off my CVN parcel.
but i think i might have jumped ship too early...but that's my 20-20 hindsight, as i was getting nervous that the ASX broke 4000+ points and oil was creeping up higher, that something had to give for that 'inevitable' market correction that some talk about.
still...i'm keen on this stock and would jump in, when it drops to about 0.70 - 0.70 for another long term investment.
i really wished i had the guts to jump in at 0.23 several months ago.
Its really interesting that last comment of yours. I go through that feeling so many times. In hindsight 0.23 was a big opportunity but at the time you would have thought it was going lower, maybe to 21c to fill that evil gap!!
I try not to get too caught up with this cos it does my head in!
Heres a thing, do you have the guts to jump in at 83c+??? or even if it drops to 70c do you still have the guts? What if next week it goes to $1+? If that were too happen you'd bang your head again! I'm trying not to let these things affect me but its hard at times!
Good luck anyways.
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