Comvita Limited (CVT.NZX)

22 August 2018

Technical Summary: It has been a wild ride for long term holders of CVT who have seen it all. In the last 5 years the stock has been everywhere, from a market darling to a market dog. The darling period was from the start of 2015 through to middle of 2016 where the stock moved from $4 and touched highs of $13 per share. Since that time the stock has largely underperformed and has pulled back to where it trades today at $5.65. The one year chart above has a lot of red days signifying heavy selling pressure on the stock. The stock currently appears to have found resistance at a logical point at around 2017 lows. It feels as if there was a poor fundamental update then the stock would be sent cascading lower.

From darling to dog, where next for Comvita?

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