Contact Energy (CEN.NZX)

22 August 2022

Technical Analysis: CEN shares have trended lower over the last year or so, its valuation being sensitive to a higher interest rate environment. We can see last year the profit-taking zone was at $8.40, and this has lowered down to $8.20 earlier this year. The stock looked oversold with the broader market in June at $7.30 (well below support levels) and experienced a sharp rebound. It has been harder to find a stable support level this year, but it has ranged between $7.45 to $7.85.

Technical Analysis: CEN shares have trended lower over the last year or so, its valuation being sensitive to a higher interest rate environment.

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