A new thread for Cambridge Silicon Radio, a bluetooth play for 2004.

Cambridge Silicon Radio Holdings Ltd, the Bluetooth technology group that is about to list on the London Stock Exchange, said its offering will be priced at 160-200 pence a share.

The indicative price range corresponds to an offer size of 54-68 mln stg and a market capitalisation for the company of 192-239 mln stg after flotation.

CSR designs and manufactures single-chip radio devices - focusing initially on solutions for the 2.4GHz Bluetooth personal area networking standard. The background and experience of our development team give CSR a unique advantage to help OEMs exploit the new wave of wireless networking, allowing us to offer the most highly integrated single-chip Bluetooth solutions, which are based on commodity CMOS technology with all its inherent advantages.

www.csr.com

===

CSR, which has secured over 70 mln usd of funding from a number of investors including Compaq Corp, Philips Electronics NV, Sony Corp, Intel Corp and 3i Group PLC, was founded in 1998.

The company claims on its Website to be the world's leading provider of Bluetooth, accounting for 60 pct of all Bluetooth end-products.

Bluetooth is a low-cost, short-range radio link between mobile PCs, mobile phones and other devices, enabling users to connect a wide range of devices easily and simply, without the need for cables.

Back test of 800 today?? Finished clear, so should be O.K. now, fingers crossed.

ignoring "silly" auction pricing, i thionk sp finished around 818, which will do very nicely so long as Mr B does not spook Wall Street as is his wont

Good to see it bouncing off 800p intraday, will need to have a gander at the chart to see if the trendline did the business of providing support.

nice broker upgrade as copid below, but would love to know what "bull case" actually means!

Morgan Stanley has upgraded CSR to 'equal weight' from 'underweight' this morning with a raised target of 720 pence, as it does not expect the WiFi and bluetooth solutions provider to lose market share in 2007, according to traders.

The broker said combined with a positive operating environment, this could result in positive earnings revisions during the second half of 2007, which could drive the share price up towards its bull case of 960 pence.

Cynic, So they think we are currently running above their target price? Does that often happen?

no idea .... puzzling isn't it, especially as they then mention 960!

CSR might be ready to take a rest now. Bounced off SP res at 910 ish and also tried to climb out of this already steep channel yesterday, but fell back. RSI looking quite toppy for CSR and is hitting resistance. Channel support at 870.

pth

Thanks PT, so you don't think it's going to shoot for the gap fill at this attempt?
Oh and thanks for the tip on charts on your TA thread, I'll have a play this week-end because I'm NOT playing golf in the weather forecast for this week-end. LOL

garfee, gaps are not always filled, but in this case CSR probably will, I just don't think it will on this move. When I first looked I think the SP was 760p or 780p (would have to check back) and it's done somewhere in the region of 20% since, which when taking the indicators into account makes me believe a bit of a pause is on the cards.

pth

In total agreement PT re the gap and you are quite correct about the SP, I was just curious. Cheers

Blimey PT were you ever right?? 40 down now.

garfee, LoL, bit more of a sharper faller than I thought, but probably sitting on the bottom of that channel now, will post an updated chart later. Must admit that like most I'm wondering when the DOW is going to run out of steam and not IF but WHEN the markets in general will see significant falls. What it will mean is that trending stocks such as CSR, EMG and many more could easily fall out of channels and establish new trends from lower down. Trick is to recognise the end of one trend and the start of another. All we can do is keep a watchful eye on the indicators in an attempt to anticipate any such moves :))

pth

CSR - Will history repeat itself?

The basis of TA says it does, otherwise it wouldn't work.

CSR remains in its channel following the breakout from 800p but has run into stiff resistance at 910p - 920p, but where does it go next?

Fascinating stuff now; the rise in March and April has been exactly replicated by the latest rise, a move of 200p, the width of the channel and the gradient of the channel, even the time frame! What followed was a five week period of consolidation and an easing of the SP. I have replicated this period of consolidation (two rectangles) and superimposed on the chart. If history does repeat itself the SP will remain in this 'box' until late August where if finds support from the longer term trendline at 810p and then begins the next move up. We shall see.

In any event I'm now quite bearish on CSR in the short term; there is little room for any sizeable rise on the RSI; as can be seen, the uptrend support is converging on resistance and although it could happen, CSR just doesn't like to be above 70, so I would expect this RSI support to be broken in due course. MACD is also toppy and looks like it might be turning down. Confirmation of consolidation rather than a breakout through 900p will be confirmed if the uptrend channel support is broken, which is at 855p, so watch this level.

hi PT .... just back from a week away, mainly biz, and have not been able to been on line at all ...... actually took a load of money off the table, but note what you say about CSR ..... as well as SCHE (lol!) ..... will review CSR monday a.m. especially in the light of a bad night tonight on Wall Street

CSR Update

No great change here, although the SP nearly fell out of the steeper channel, still expecting CSR to consolidate during the next month or so and would be tempted to sell into any strength with a target of 820p. Depends if this theory of history repeating itself holds true.

pth

thanks PT .... am actually already out a a very decent profit but like the company and will assuredly reinvest in due course

Chaps, yep, well I've had one trailing stop loss taken out, but after tonight's performance I'm decidedly uneasy.It wouldn't surprise me if I was taken out of two more tomorrow morning leaving me with just four of my positions waiting, hopefully for the chart to fulfill its prophecy. Wish I had the cojones to short stuff. Mind you, I'm doing O.K. on cable, ever wary of your old advice from your friend Cynic about 207. I too have a friend who used to be a Forex trader, heavily chart oriented and I will confer with him this week-end. Godd luck guys.

garfee .... my forex position is comfortably in the money, even if that can quickly change .... have also just bought back in here at 807 having banked profits a couple of days back at a considerably higher level.

Blimey, CSR taking a real hammering on what appears to be good news, same old story, didn't expect this sharp fall. Looks like it's out of the 'box', should find support from the longer term trendline.

pth

trendline at 780