CLS (W)For long term traders/investors, the share's proximity to it's 200-week simple moving average is a factor to note: (1) While the price has made higher highs over a 4-year period (vs it's 200w), the DISTANCE vs the 200w has showed negative divergence by making lower highs. This is often a precursor to a breach of the 200w. (2) The distance vs the 200w is narrowing while a downside breach of long term support is possible which may eventually see the price price losing support at the 200w. If there was any stock that has shown absolute resilience over the long term, it's JSE:CLS ...however at a 33 price-to-earnings ratio and a price to book ratio of 15x, the technical factors and structure, combined with the valuation should be borne in mind.
