NZ based telco CNU has struggled after being the sectors shining light into late 2020, after announcing a 2.1% decline in revenue back in February it’s been one-way traffic even after adding more than 60,000 connections – new regulations being introduced for fibre service providers is not helping. Also NZ is rolling out its equivalent to the NBN which is clouding the picture for the sector short-term. However we see real value in this kiwi telco infrastructure group if it again dips under $6, the current downside momentum could even see the stock break $5.50, the ideal technical area to start accumulating.
MM likes CNU into weakness under $6
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