Update on ASX:CCP
IN early Nov, I wrote about how 
CCP would recover and break thru. After a whole month of consolidation between 23-26 dollar range, it finally broke thru previous high of 26.62 with the news (hotcopper.com.au/threads/ann-clh-clh-outcome-of-recapitalisation-process.5834618/).
On fundamental side, CCP is a debt collection company. its acquisition of the other company's debt, with a great price represented two catalysts : (1) its strengthened its book with some low cost inventory and (2) it consolidated the market further and put CCP into a even better position than before.
I remain to be super bullish about CCP and will hold on my current position. And I am not surprised it will go beyond its historical high of 38 within the next 6 months.
CCP would recover and break thru. After a whole month of consolidation between 23-26 dollar range, it finally broke thru previous high of 26.62 with the news (hotcopper.com.au/threads/ann-clh-clh-outcome-of-recapitalisation-process.5834618/). On fundamental side, CCP is a debt collection company. its acquisition of the other company's debt, with a great price represented two catalysts : (1) its strengthened its book with some low cost inventory and (2) it consolidated the market further and put CCP into a even better position than before.
I remain to be super bullish about CCP and will hold on my current position. And I am not surprised it will go beyond its historical high of 38 within the next 6 months.
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RBA's decision to keep the interest rate low and pumping more cash into the marketing is putting oil on fire for CCP's stock price. Continue to strong hold and keeping target price at $38 for the moment.abc.net.au/news/2021-02-02/robinhood-gamestop-silver-asx-wall-street-surge/13071976
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