Buy on rumour - sell on actual.
Technically, price is still finding resistance everytime it lifts to $8. Their chart is still giving me a sell signal, even today.
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Buy on rumour - sell on actual.
Technically, price is still finding resistance everytime it lifts to $8. Their chart is still giving me a sell signal, even today.
Yeah Bobcat,Let's see if it gets a lift after lunch or not?
What you state about resistance is true at present. A few things though:
- Share Price probably already reflected an expectation of an announcement verifying at least 17% growth.
- Many insto's (especially overseas ones) won't get around to analysing and reacting for days or weeks.
- Price will easily be over $10/share within the next 24 months. Buying under $8 now reflects min 25% return over 2 years plus dividends.
Hence I will not be selling.
It will be an interesting afternoon session though, as will tomorrow's session, and Monday's after people have spent the weekend absorbing the media-generated news.
Dear Blockhead my sentiments exactly.
Its also my belief that after the Quake all folk got $200.
Why is there such variability in the price during the day this week?
Even today, it has been all over the place, and while there seem large jumps to the holder, they are not enough for traders.
"For the full year, the company is on track to achieve its medium term target of growing underlying profit by 15% per annum." - RYM announcement today.
Sounds to me like 15% is their medium-term target (over say the next 5-7 years?). Not a very stretched target if they beat it year on year and by nearly 50% in the first half of this one.
Like other good companies, perhaps they set what they believe to be conservative expectations, and then exceed them.
I'll be happy if they can achieve 15%pa profit growth for the next 5-7 years. Now, what does that compound to ..........?
:cool: