ExpertsPretty frustrating when you hear experts talk about $80. Can anybody see what they're doing? They get paid big bucks for looking at fundamentals but I am more and more convinced that they look at the 200 day moving average and then throw a number out. We have said all along that anything below the 200 day moving average on the stock is a buy in the long run. Anything that gets away above that 200 day moving average, you're living on borrowed time. Growth potential in the stock over the last 2 1/2 years is very clear. In the past it has stayed between 30 and 35% above the 200 day moving average. I have no doubt that we will see that in the future.
The two hundred day average has slightly sloped downward since October. If this stays on course, it does not look to me like we will cross the 200 day average until sometime in March. By then the 200 day will be in the 75 dollar range. To me that will be the worst case scenario, however, I recall March 2014 when the stock jumped from $63 to $91 in about a week after buying Covis assets. I truly believe CXR could do a 30 to 40% move without much of a notice. Sure , this is all a part of technical analysis but I am a firm believer that history on a particular stock does repeat itself. This will not hold the market up but it will be a leader and if more money pours into the U.S. and their $, CXR will be in the drivers seat.