Contact Energy Ltd [CEN.NZ] was a Stock of the Week pick back in June and I picked it then because the share price was heading below 6 bucks and there seems to be some resistance to the stock price falling too far past the $5.50 mark and that is why I have included it again.
The stock has retrenched below $6 4 times this year and has always retraced back above that mark. As high as just over $6.50 on one occasion.
A good stock for you short termers out there and a good opportunity for those of you looking for a good company on the cheap for a long-term proposition.
I must repeat though that management of this company is poor but even a monkey running this company can make money.
Could go lower than its current $5.84, with a low this year of $5.47.
Buy on further weakness if this stock has been on your watchlist.
Contact @ Share Investor Blog
Not so fast Davy Boy
Still Watching Contact Energy
Beam me up Davy
Stock of the Week: Contact Energy
MarketWatch: Contact Energy - June 2009
MarketWatch: Contact Energy - Jan 2009
Contact Energy looks bright during dark times
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