Technical outlook – Technically, it is anticipated that the mild decline (since the rejection (twice)) above $16.00, may continue in the short-term. Therefore, we expect a move to the region of $14.24 will likely stir-up the ‘bull-pack’ as it awaits to be contested. We expected a rebound should emerge from this region and reignite the bullish journey.
Company Overview – Carsales.com Limited (CAR) is an Australian business principally operating two business segments, being Online Advertising Services and Data Research Services. Currently, the automotive classified advertising is the main product of the Company. Former Names: Carsales.com Limited (CRZ), 24/02/2015.