Technical outlook – Cromwell Property Group (CMW) share price appears to be experiencing another round of bearish pressure since the second rejection above the $1.30 level. By the technical appearance, it is in our view that the market will remain on its bearish course until it runs into demand which is expected to emerge from the region of $1.20 region. Reassess from there, “before the bullish call is given”.
Company Overview – Cromwell Property Group (CMW) is an Australian Real Estate Investment Trust (A-REIT) and a property fund manager. CMW currently has $252.4 million assets under management. CMW has two property securities funds, the Cromwell Phoenix Property Securities Fund and the Cromwell Phoenix Core Listed Property Fund. Cromwell also has a fund that is mostly invested in microcap securities, the Cromwell Phoenix Opportunities Fund. Former Names: White River Corporation Ltd (WRC), 01/10/1987; Westholme Ltd (WHM), 31/12/1998; Corporate Equities Ltd (CPQ), 01/04/1997. Cromwell Corporation Limited (CMW), 12/12/2006. Cromwell Group (CMW), 31/01/2011.