Technical outlook – Since the bearish reversed late March 2020, it has been all uphill for Dicker Data Limited (DDR), after prices staged a minor pause above $7.00 early May.
Therefore, it is assessed that in the background, the bulls are quietly gathering and are in a prime position to join forces to take this share higher.
Although, let’s first see if the market can clear $8.00 before we “put all our eggs in one basket” and still leave enough room for error, (that is) if the market bulls lack the initial momentum for the bull-run.
If we do witness an $8.00 break, (it is therefore anticipated), that a bullish call will put this share price on the path to $8.80-90, reassess from there.
Company Overview – Dicker Data Limited (DDR) is an Australian wholesale distributor of computer hardware, software and related products. Its vendors include Hewlett-Packard, Cisco, Toshiba, Lenovo, Microsoft, ASUS and other major brands. DDR services approximately 5,000 resellers who in turn service multiple clients ranging from SMEs to large corporate.