It is in complete freefall now, maybe the DRP shares did have an impact as people waits for their DRP shares before selling off their entire position?
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It is in complete freefall now, maybe the DRP shares did have an impact as people waits for their DRP shares before selling off their entire position?
Hi Sparky
Just as an aside I was told that ACC's financial team is very good so "buy what they buy, and sell what they sell".
Also going by fundamental factors such as P/E x EPS (Currently $2.67) it would suggest that the price is now dropping under fair value. I am looking at buying more CNU but will probably wait until the current downturn shows signs of recovery. It might pick up next week, or it could continue down for a while.
As far as technicals go I agree with you, but RSI can stay oversold for a long time, and it's at its lowest ever price so no support below the current price. It will be interesting to see where the market finally finds support.
STC - amazing how behaviour changes! If you had posted that 2-3 years ago or before, you would have been attacked from all the corners by technical experts (including the most dreaded Mr Phaedrus- naming him with respect). Never ever average down, average up, go with the flow, never fight the market etc.
I am amazed that you are having such a smooth ride (me too :t_up: by luck only)and no one is questioning your approach to share investments!
Int bit from a Broker.Regulatory uncertainty( built in to shareprice maybe) and capex risk given an increase in the est cost of the UFB communal network build.
They also expect CNU's EBITDA and NPAT to decline considerably as revenue falls slowly due to a slow drop in access lines as copper lines migrate to UFB fibre in non CNU regions and regulation cuts copper pricing operating costa slowly climb and new fibre assets start to be depreciated. Investment view higher risk than it appears at face value.
Maybe all that above is coming from a long term mindset and not considering the short -term opp.
Top of the morning Sparky. NZ, something beginning with C.
GENERAL: CNU: Changes to NZX 10 Index 10:21a.m.
CNU
15/04/2013 10:21
GENERAL
REL: 1021 HRS Chorus Limited (NS)
GENERAL: CNU: Changes to NZX 10 Index
STOCK EXCHANGE ANNOUNCEMENT
15 April 2013
Changes to NZX 10 Index
NZX Indices has announced changes to the NZX 10 Index as attached.
The changes will see Chorus removed from the NZX 10 Index effective at market
open on Monday 22 April 2013.
ENDS
For further information:
Brett Jackson
Investor Relations Manager
Mobile: +64 (27) 488 7808
Email: brett.jackson@chorus.co.nz
End CA:00235182 For:CNU Type:GENERAL Time:2013-04-15 10:21:38
Would we see index funds selling CNU since it is dropping out of NZX10?
Been keeping an eye on this guy for the last month, I do not hold presently, good solid Div and risk relative to price is diminishing, held previously but havnt for 6 or so months, price has really dropped out now and some more news today which wont help CNUs shareprice.
STOCK EXCHANGE ANNOUNCEMENT 15 April 2013 Changes to NZX 10 Index NZX Indices has announced changes to the NZX 10 Index as attached. The changes will see Chorus removed from the NZX 10 Index effective at market open on Monday 22 April 2013.