Corporate Travel: Happy Above Downtrend Line

This story features CORPORATE TRAVEL MANAGEMENT LIMITED. For more info SHARE ANALYSIS: CTD

By Michael Gable 

The US received a ratings downgrade from Moody’s last week, but what rates as probably the biggest news for markets in the past few days didn’t seem to have an effect.

It was a long-time coming and didn’t surprise anyone. It’s yet another example of how you don’t make money on something that is already in the price.

On a light-hearted note, the recent rally has been described as the TACO trade – Trump Always Chickens Out.

It doesn’t matter which side of the fence you sit on; it once again highlights how only several weeks ago everybody was running around scared that the sky was going to fall in.

However, buying into the capitulation, and looking at price action and not headlines, was always going to be the best strategy. 

Today, we offer a technical view on Corporate Travel ((CTD))

After peaking in February, Corporate Travel shares then fell back to retest the 2024 lows near $11.

Last week it jumped higher on good volume and broke above the short-term downtrend line.

Weakness in the past few days has been on lower volumes, which is a good sign.

Corporate Travel is a buy here and initial stops can be considered back near $12.

The nearest resistance levels are near $14 and then $15.50.

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

Michael is RG146 Accredited and holds the following formal qualifications:

Bachelor of Engineering, Hons. (University of Sydney) 
Bachelor of Commerce (University of Sydney) 
Diploma of Mortgage Lending (Finsia) 
Diploma of Financial Services [Financial Planning] (Finsia) 
Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

Find out why FNArena subscribers like the service so much: “Your Feedback (Thank You)” – Warning this story contains unashamedly positive feedback on the service provided.

FNArena is proud about its track record and past achievements: Ten Years On

Click to view our Glossary of Financial Terms