CML has had a good run for a year and a half or so. However, I'm skeptical about it's ability to sustain it's current share price growth.
Well I'm not a genius at fundamental analysis or technical analysis but I feel that the grocery market in this country is becoming more competitive. I've just had a bunch of these Aldi supermarkets open up near me and they are definitely cheaper than either Coles Myer or Woolies.
Surely in this type of competitive market, CML must either cut costs or allow their bottom line to suffer, indicating a retracement is eventually on the cards.
Anyone else have an opinion on this one? Is it forming a double top?