Monday, July 5, 2010

Chart of the Week: New Zealand Stock Exchange Ltd

The aim of this series of charts is to show the divergence - up or down - of the selected individual stock price away from the NZX 50 Index. The chart is a 1 year look to give some relevant background to any recent (two to three months) share price movements.

I will look at The New Zealand Stock Exchange Ltd [NZX.NZ] this week. I have included it as a chart of the week is because of the spectacular drop in shareprice over the last 3 months - almost 25% - and a big drop of 12% over June, where it has gone from $1.65 to trade today at an 52 week low of $1.46 last Friday at market close.

The company isn't being well managed, with poor regulatory restraint and tainted by a high level of insider trading and the share price reflects that but if you were thinking of buying NZX shares now would be the time to put it on your watchlist.

The NZX average of all indexes has been up by 5% over the last 3 months and by comparison NZX shares have dropped 25% below April's NZX average.

Buy on further weakness - today could see a good drop due to further weakness in the DOW.

NZX @ Share Investor

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Discuss NZX @ Share Investor Forum

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c Share Investor 2010

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