Dicker Data (DDR) is a wholesale distributer of computer hardware and software. It distributes products from well-known names such as Cisco, Dell, HP, Lenovo, and Microsoft.
“Like many Australian technology companies, its share price has underperformed during 2021. However, when I look at how it has been trading recently, I think the odds are that the share price will continue to increase from here,” Michael said.
After falling away between February to early May, we then saw the share price rally strongly at the end of May. It encountered some resistance at $11 and fell away again in June. “However, in the last few weeks we have seen the share price break through resistance at $11 and then hold on top of it.”
“Where there was once a lot of sellers near $11, we now have a situation where any dips back to $11 brings out the buyers. I find this price action to be very encouraging and I expect the share price to trend higher from here,” Michael said.
Click here to watch Peter Switzer’s interview with founder David Dicker earlier this year.
Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regard to your circumstances.
