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

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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.

Looks like she's having another go!!

now for a little fun! ...... will sp now hold above 800? ...... are there some automatic computer trades about to come in either as buyers or to close down shorts?

Cynic, indeed, fingers crossed.

800 just about held from a high of 818 ...... all in all, not a bad result for the day, but the break needs to be decisive, so tomorrow quite important

Two charts tonight and a few comments. Quite surprised really that CSR had another good go at 800p today, but a word of caution, look at the volume. Expecting a small pull back tomorrow, but the good news is that the downtrend resistance has been breached and as hypothesied previously should now become support and provide a base for a real go at 800p. So no real change on the first chart.



The second (and I didn't post this before) is the RSI resistance. Most peeps consider this indicator as an oversold or overbought indicator, but actually it's neither and does have other value. In this instance you can see that the RSI is replicating the 800p resistance (after a fashion) and before this level is breached, further momentum will be required.



Seems that the CSR SP is doing stuff quicker than I thought, but it will take quite a push before the 800p is gone and becomes support.

AIMHO of course and charting aint always an exact science.

pth

as always, would never disagree with your analysis which is always much more profund than mine ..... however, Dow is currently +116 after about +70 at London close ..... provided that it can hold this, I would not be at all susprised to see CSR powering ahead tomorrow ...... as far as I can determine, next resistance is at 900 and then at 1000; coincidentally nice round numbers too

Apologies for the cocked up post. I seem to have done summat to the HTML code and I can't even edit my own post, but hopefully you get the gist, perhaps Ian can sort it out.

Cynic, next reistance is at 800p............still, but it will go, just a matter of when. Pity I'm not a holder, done enough TA, but as long as it helps you guys......good enough for me :)

pth

Edit: Mostly sorted, although not sure why I am getting that little box with a red X :(

very many thanks PT .... i am already a holder and am at least reasonably confident that 800 barrier will now be breached with decent impetus ...... tomorrow and arguably rest of week will tell, though with Wall Street closed for Wednesday 4th, and thus de facto the rest of the week, it may not be clear until this time next week.

PT let me add my thanks to those of Cynic, you pulled into focus my crude attempt at T/A, although I got the gist right.
Cynic, again, good call re the U.S. Let's see what the close brings. I still aim for something closer to 1200 based on the charts.................we shall see.
I added a small hedging short S.B. last night, believeing the volume meant the rise unsustainable with a very tight stop. Happy to be taken out of that if this continues.
Good luck!

So far so good, if it can hold this today 800p should become support rather than resistance. my only concern is the slim volume, both yesterday and thus far today.

pth

Volumes picking up nicely and as you said last night Cynic, Dow dragging the FTSE along (for a change) looks like it's made it. Will have a look at the chart this evening and see where it might go from here.

Got all my timings wrong, but in general it did what I thought it would. Easier to make predictions when one doesn't have a holding.......seemingly :)

pth

LOL, tell me what else you're not in then PT!

garfee, loads of stuff I'm not in that perhaps I should be (and stuff I am, I shouldn't be)

Had a look at the chart tonight, interestingly the SP action was capped by the RSI, won't bother posting the snapshot, but still to break through that particular resistance. 800p should now provide support but if not, the rising trendline will, I am sure do so. If it does slip below 800p, the level will not prove particularly strong resistance again as it has been breached now in quite conclusive fashion.

pth

pth

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