Watch Cedar Group (CED)...

Riz

Experienced member
1,266 5
CED is a software firm with P/E of 32 and compound annual growth rate of 95% for the last 3 years...p/e is quite high so is the growth rate however...

CED used to be on the top list of the market..price hit 1500 in March, down to 600 in May after the tech buble burst..from then on it mostly traded between 700 and 900 till it dipped down to 400 in October then 280 in November..mostly due to the takeover in America which they launched a rights issue to pay for...this started analysts to question their accouting policies..

The share price started showing a slow recovery and moved up to 320 till mid January after forming 3 bottoms around 280...on 23rd Jan. it started scooting up to 387 with a gain of +67 around 20% in 2 days..that's when I jumped in at 328 and out at 375...

CED 342.5 afterwards and remained flat for the following 9 days while most other TMT stocks were being hammered down...

Chart has also looked flat in the same period...it looks like CED is preparing for another bounce...it's therefore worth to watch closely with a view of getting in..waiting for positive signs however chartwise/newswise/Nasdaqwise...

(no financial advice intended)

rizgar
 

Riz

Experienced member
1,266 5
Shel, can you tell me about one single tech stock that hasn't disappointed investors in the past?

rizgar