Company Report
Last edited 2 years ago
PerformanceCommunity EngagementCommunity Endorsement
ranked
#136
Performance (46m)
16.5% pa
Followed by
61
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#Financials
stale
Added 2 years ago

I am not going to disagree with @Rick on the financial outlook for this company, but I want to give a different perspective, as whilst current price levels look compelling, there may be the opportunity to buy at a lower price and increase the overall return.

The current chart is in a short term downtrend and it would be prudent to see where the sellers start to dry up and a new uptrend start before jumping in.

Removal of government stimulation and headwinds of higher inflation and rising interest rates are all likely dampeners on consumer spending and I suspect the share price will not rally soon.

As an estimation of where the bottom may occur, then the confluence of the prior uptrend slope from 2017,8,9 and a period of prior resistance may be a good estimate and so a price of around $9 would be entering a buy zone.

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