CPF : Next target is 33
July 31, 2011 Leave a comment
We are on record (search this blog) of forecasting a longer term target for CPF of 45 to 50.
We also predicted it would trade at 30-32 during Q2, and for the very near term we think it has potential to hit 33. A breakout here is possible, but for it to work out it will need a huge volume surge – at least 400m shares going through over a week, and preferably nearer 600-700m (for the week) Last week flows were just 209m, less than half of what’s needed if 33 is to be hit and indeed surpassed.