City lodge had a really good week, starting at just under R2.40 and ending off at R3.16. A growth of about 32% in a week. Possibly reacting the the good news of the vaccine announced. Despite a strong showing this week, its still a far cry from the R16.00 price point we started the year with and thus City Lodge still has a long way to go.
An interesting note though is that even before Covid or the lock down, City lodge had a consistent declining share price spanning over a couple of years. It will take a really good turn around in terms of business management and healthier financial statements for us to see a worthwhile reversal. Comparing this weeks rise to the overall chart over years, the 30% gain is a mere spec.
We are currently above the 2.90 support line thanks to this weeks rise but i think it would be fair to expect the share price to go below this again after the excitement has died down a bit.
An interesting note though is that even before Covid or the lock down, City lodge had a consistent declining share price spanning over a couple of years. It will take a really good turn around in terms of business management and healthier financial statements for us to see a worthwhile reversal. Comparing this weeks rise to the overall chart over years, the 30% gain is a mere spec.
We are currently above the 2.90 support line thanks to this weeks rise but i think it would be fair to expect the share price to go below this again after the excitement has died down a bit.