Monday, March 14, 2011

Share Price Alert: Contact Energy Ltd

Chart forContact Energy Ltd (CEN.NZ)

Contact Energy Ltd [CEN.NZX] has come back into play over the last week as it share price dips below 6 bucks (see 2 year chart above) for the eighth time in the last two years.

These dips have always been followed by rallies typically close to $6.50 and then another retreat.

With a 2011 half year pretty much level with the 2010 result and traditionally Winter being a much better revenue and profit earner than Summer, there is scope again for short to medium term investors to make some quick money.

Look for a pull back towards $5.50 but start taking serious interest below $5.80 to make an easy 50c per share on the upside.

Long term investors who want this in their portfolio should also look at buying at these levels and they will lock in a good profit earner below 6 bucks.

Buy on further weakness.

Share Price Alert

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