CSR is approaching support

Our Algo Engine generated a buy signal recently in CSR and we recommend investors keep this name on their watch list.

$4.31 is likely to be a point of support as the stock price trades into a value range supported by a 5% dividend yield.

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Last week, CSR management reaffirmed the FY19 earnings outlook for flat growth on FY18 numbers.

For this reason, we view the approaching opportunity as a “technical bounce” rather than the beginning of a prolonged uptrend.


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