$CDA:ASX - CODAN - Breakout through resistance with volume

Codan looks to have pushed through that resistance area with a retest and new volume behind it. Moving averages spreading apart nicely. Global operator with government clients who don't tend to curb their spend i downturns. Might be worth a watch.

Current demand is 61 buyers for 106,346 units with 29 sellers for 47,241 units

Codan Limited develops electronics solutions for government, corporate, non-governmental organization (NGO) and consumer markets across the globe. The Company's segments include communications equipment, metal detection and tracking solution. The communications equipment segment includes the design, development, manufacture and marketing of communications equipment. The metal detection segment includes the design, development, manufacture and marketing of metal detection equipment. The tracking solutions segment includes the design, manufacture, maintenance and support of a range of electronic products and associated software for the mining sector. The Company's technologies include radio communications, metal detection and tracking solutions. It also serves aid and humanitarian organizations, mining companies, security and military groups, and artisanal miners. The Company operates in Australia, Canada, the United States, China, the United Arab Emirates, South Africa and Ireland.

Comment:

Nice 15% gain and I think there is more in it.

Comment:

Through $5 and up around 20% which is a nice run so far.

Comment:

Looks to be at a good value area and starting its bounce off support

Comment:

CDA managed to hit a 100% gain since I first posted it above, but now it is going through a reasonable pull back. Have an alert set for re-rentry / top up when it shows signs of recovering.

Comment:

Slow recovery for Codan and too volatile for my liking at the moment.

Comment:

CDA sitting just below $11 again.

Comment:

Been travelling sideways. Still travelling sideways, but I like the BB Squeeze coming in.

Squeeze on.