shares4sharing

Market is reacting positively to #CMCX interim results

Long
LSE:CMCX   CMC MARKETS PLC ORD 25P
The company's strategy is reflecting well in its improved revenues and profitability - and for the moment it seems to be holding above the channel, but always possible we may see some profit taking as a result of continuing concerns about regulation of the industry.

Comments

I found your chart very interesting from a technical standpoint and thought it noteworthy how many times the 1.618 fib extension came into play with this move up. Of course, I shall only be "right" if this share rebounds strongly soon and continues upwards. My analysis will be invalidated below 127.


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@tomj2417, I bought this particular share at 180p in Nov 2016 just before the regulatory announcement that sent it tumbling, but I decided to hold on the strength of its fundamentals. Most recent results were quite good, so hoping for further upside. It has been a long haul, so I shall be disappointed if it falls back below 127p!
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tomj2417 shares4sharing
@shares4sharing, Hope you don't mind me posting this chart but I found it fascinating how (to me anyway) this share respected the Elliott wave theory almost perfectly. It has just hit it's 61.8 fib retracement of the climb up. No idea if that is a bottom or not as there still seems to be plenty of selling but might be worth keeping an eye on.....
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