Right thanks couta
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I'm in for the divvy, result was okay and the stock is quite liquid.
Slide 6 in preso has some nice charts.
If you take their revenue and divide by production ou get a good feel for pricing of the finished product (say yield per tonne)
f17 yield was $6,152/tonne down from $6,252/tonne in F16
Current (average prices) are 5.8% less than FY15
I'd say talk of increased prices is just wishful thinking - chicken is really just chicken after all - winning consumer preference on price.
Yes back in @ 1.16 ...see if I can make another profitable trade ....good to see some support at these levels
End of the day with 60,000+ more kiwis p.a + tourism growth ...and chicken a increasing favourite food choice .... I'd be very surprised to see
TGH not keep on a slow but steady growth path (well till some mega International BUYs them)
Good to see your confidence guys. I'll wait a few days and see where the SP leads before topping up :)
TGH failed at 1.21 (1.23) resistance level..and the FY announcement failed to ignite the sharprice to cause a break out....could be the end of another sucker rally, folks.
On the positive side the chart still seems bullish although weakening as the sucker rally dissipates..
See detailed Chart on the Using TA to time entries and exits thread Post #283
the old 53 week trick eh...fooled some into thinking they'd met guidance but the market overall has voted and seems unimpressed, down 5 cents before the result and 2 cents after it. I'm thinking the shares just like their chicken will be on super special for quite some time. A sustained commodity glut is exactly that no matter how you slice and dice it, just ask the Saudi's or the Russians !
Other than the obvious 53 week trick I wonder if the other beagle has time to go sniffing and digging into their accounts looking for any less obvious accounting tricks, (this hound too busy barking up other trees). Come in Snoopy !