I am of the same view and am topping up a little at the current level.
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Nice little run ahead of the trading update, bring on continued momentum.
MFT testing trendline & MA 200 for a second time, last time it failed to break out. Doesn't look any stronger this time.
Already seen EBO & FPH break their down trends, MFT late to the party.
Attachment 14430
IMO too early to determine .. a bounce off most recent bottom
the 2 year trend seems to point at finding a low a brief bounce then coming back exploring
for a new lower bottom ;)
sure enough, sooner or later maybe .. but then there are all range of new counter factors
at play now that weren't present 1-2 years back
the highest peak was circa $94 in early Sep 21 after rapid ascent from lockdown Apr 21 lows of circa $68
The ton mark was never reached, and we're just $5 or so above those Apr 2021 Lows - 21 months later
the MFT model is good & working well, the dividend yield a miniscule %, however maybe the market
is really not prepared fully recognise blue sky territory in current troubled economic climate
just yet or for reasonable period ahead, but I may be wrong :)
Looking at MOV also tends to point to how the market looks upon the sector, even with
ex MFT talent onboard, but still struggling to gain traction on a SP which has also
demonstrated remarkably similar patterning to MFT, but on no current dividend and now seen
floundering, struggling to keep it's head above the $1.00 mark, also well off earlier peaks
That shud inspire our better equivalent MFT ...if one remember MFT did best during the 2008-09 crisis and came out least hurt ...this time wont be different ...its a better and bigger company with more geographies / economies exposure ...Super positive on it over next 5-10 years
Whats the buzz ? Is market expecting not too satisfactory update ?? Update shud have come by now ....otherwise we need wait for Tuesday ...:confused:
Maybe market thinks after biggest last PCP it will be difficult to do any further growth in current environment....but they did say 2% revenue growth and 10% NPAT growth in first 5 weeks of second half ....
I still think they will have something positive for us or we will also do something like JB Hunt stock did after a poor update signifying their business has bottomed for this cycle ....fingers crossed