RE: Watchlist - Traders method
Cable and Wireless CWC.L made a continuation move when it broke out today with a gap up on exceptional volume. The break out was from a consolidation having arguably broken above it's stage one base, a previous 2A break out having dropped below the 30 wma. It's a bit extended to get in at this price imo but one may consider it if presented with an opportunity for a secondary entry. Going off the size of the volume today, if profit taking comes in it may not drop below gap support.
The stock paid a dividend of just over 5% last year all though the payout has weakened since 2009. One thing which may be in it's favour is that although it is head quartered in London its operations are primarily in the less indebted and arguably less developed countries of central and latin america. It is also in the globally strong telecoms service sector.
PRT's chart does not go back very far but if you have access to chart that goes back to 2000 you will see that this stock was trading at over £500.