Second Bite At The Cherry?the market may have gotten ahead of itself after the CMA gave CARB clearance to acquire BOC. we still remain bullish and maintain our price target. we could get a second bite at the cherry as price nears the "golden zone" (50%-61.8%) of the fibonacci retracement. Longby Kwaku_As2
the bigger the base, the higher in spacethe chart says it all. Carbacid is a phenomenal company with a leading market position in the East African region. this moat is reflected in the company's stable financial metrics. Mr Patel, a prominent investor on the NSE has increased his stake from approx. 25% to 49.9% over the past decade. One would be hard-pressed to find a company with a much stronger balance sheet. wrt technicals, we'd need a much cleaner breakout to trigger an entry. Longby Kwaku_As4