Chartwell Tech - CWH - potential bottoming

Discussion in 'Stocks' started by Chagi, Sep 8, 2005.

  1. Chagi


    I have a few stocks on my watchlist right now, particularly ATI (ATYT), Nortel (NT), CV Tech (CVQ on TSX Venture), and Chartwell (CWH on TSX).

    Ironically I had mentioned Chartwell on another thread that was making fun of analyst call-in shows on business channels, but I've been watching CWH's steady downwards trend for a few months now. Finally had a nice strong up day today (Sept 7) on good volume.

    Attempting to pick a bottom is generally a risky thing to do, but I'm going to be watching this one closely tomorrow, as the stock has now poked its head above a couple of key moving averages that I watch (8 and 20 day SMAs, slightly below 20 day if you use EMAs) . Was considering opening a position today, but wanted to give this a day or two first to see how solid the move was.

    For those interested in fundamentals, Chartwell basically writes and licenses out the front and back ends for gambling sites, company is profitable (you can find financial statements on for Canadian companies on Sedar). Won't get into much more detail than that, since I look primarily at technicals, I just usually look at fundamentals before trading a company.

    Please keep in mind that this is a lower volume, low float stock, approx 20 mill shares o/s, so trade carefully, spreads generally aren't very nice on this one.