then its fine by me. Yield is now over 6.3%, its trading at yearly lows and is out of favour.
Could be hit by the politicians seeking cheaper bills, the weather is too nice (well maybe not today) EPS to be lower 19p from 21p, oil prices continue to drop, competition authority investigation due Dec next year and Questor was also against this too.
But they say buy on the dips so I have added this morning. No doubt it will keep falling now I have added but you have to make a decision sometime. In the mean time I will keep collecting my divis and see where they can be recycled to gain more income.
Hopefully all the negatives will be overcome in time and with management forecasting improvements in adjusted earnings plus some cost cutting things will look better. Then I might be wishing I bought more.
More disappointing to have closed 279.90, below key 280 level for first time since 21 December, 2011, which saw 278.80 close. Back then CNA recovered slowly from that sub-280 dip, initially struggling around 280-290 levels for a few weeks, before getting back to 300+.
Whilst today's volume not massive & SP fall mostly following general falls across all markets, if we don't see a repeat in SP trend with at least some consolidation at these levels if not recovery, caution well advised for foreseeable future. - GLA.
A bit disappointing to see us dip below 280 today, but volume so far not convincing & intraday price action matters much less than closing SP. Looking at future prospects for recovery here, major funds like CF Woodford Equity recently topped up:
Though nothing is 100% certain or entirely risk-free, for eg. global & UK climate getting warmer recently, the continued confidence here of any highly successful, long-term investor not to be ignored. - GLA.
Smileymiley, one final point, though CNA has bounced off 280 more than since 16 October's 280+ close, a reversal of recent downtrend not yet confirmed. Not by a long way. We'll need to finish much higher than current levels to safely say that. - Cheers. Catch up a bit later.
In nutshell, a SP level giving strong support to a stock from which it recovers after testing that level twice (or more). For CNA, 280+ has so far this year offered that support. - Go back further & you'll see CNA also bounced off circa 280 levels back in early 2012 & late 2011, leading to strong reversals of previous downtrends.
However, we'll appreciate that past SPs are never a 100% reliable indicator of future price moves. Nothing is that predictable in markets. If only it was so simple, we'd probably all have retired long ago. But 280 has been significant for CNA.
If 280 was to give with lower closing SP on 2 successive days with high volume, it'd indicate that more investors are losing confidence. There are of course grounds for caution with recent fines, possible increased regulation & more competition. A mild winter also won't help.
As for it sounding "slightly painful", indeed. But it could be more painful financially if it doesn't play out as before. ;o)
hello , can you please tell me what a double bottom reversal is exactly! (sounds slightly painful) looking at the new discovery of gas in the joint Norwegian operation is a positive and forecasters are now saying a temperature drop is due.
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