CODA - Bullish Break IdeaIdea showing 1.2.3.4.5 trying to display my rationale of why I expect the next move upwards
Symmetry with the last down move at 1 allows for this move up towards 5
Forms a large W pattern
Bullish on this daily timeframe
Coda Octopus Group, Inc.
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Market insights
Moving upCODA is in a good spot on multiple time frames to continue this uptrend after recent breakout. should hit the 200DMA soon.
Coda Octopus Group, Inc. Reclaims 200MA support Short interest 12.72%
Coda Octopus Group, Inc. engages in designing and manufacturing patented real time 3D sonar solutions. It operates through the following two segments: Marine Technology Business and Marine Engineering Business. The Marine Technology Business segment develops solutions for both commercial and defense subsea market. It is also called the Products segment. The Marine Engineering Business segment supplies engineering services primarily to prime defense contractors. It is also called the Services segment. The company was founded in 1994 and is headquartered in Orlando, FL.
Institutional buyingHigher lows/highs since may. We can see there has been institutional buying since june, which explain the recent price spikes. TTM PE = 13.2 accounting for current assets- total liabilities.
Coda Octopus is a buyCoda is currently evolving in a descending triangle. The triangle point is on the annual support S1 which gives the figure a high probability to evolve to a rebound. Stock is undervaluated comparing to book value and PER and ROIC is among the best of the sector.
H&S HourlyI am long this stock, but small H&S on hourly may provide us a better entry @ 200 DMA or lower around 7.4.
CODA is looks ready to Soar!Reversal in place, backtest done on low volume.
I'll add to the trade on a bullish candle confirming the resumption of trend.
Coda Octopus may be on the verge of a trend line breakCoda Octopus is an underwater engineering company and maker of sonar. that appears on the verge of a trend line break. The stock is down some 60% off its high from May, but has stabilized around 7.50 and appears on the verge of a trend line break. CODA has recently attracted some interest from institutional investors, which helps account for the stabilization.
S&P Capital IQ rates the stock's valuation 90/100, or highly undervalued. It also gives CODA a good score for financial health. Yahoo Finance, which is much more conservative with its valuation ratings, says CODA is "near fair value." CODA has an attractive P/E of about 10, vs. the industry average of about 26. CODA has a 9.7/10 analyst summary score from Thompson Reuters StarMine. Overall, the fundamentals on this stock look as attractive as the technicals do.
CODA Detected possible sale of company or assets!!!CODA: coda octopus group
2018-06-18 09:30:12
Detected possible sale of company or assets
