Its a nice trade .... it always has been.
Usually buy at 6 and sell at 8-9
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Its a nice trade .... it always has been.
Usually buy at 6 and sell at 8-9
I agree Beagle however there is value in the SP right now. What Waltzingman says... 9 bucks would be good
one never knows, FBU could put a few good reporting periods together in a row and then next thing you know you find yourself at $10-$12 share.
Happy to hold construction industry related shares right now as well. FBU did note that they were happy with how they were raising prices in line with inflation. Good protection of my dollar owning this stock. STU up next
its a 50/50 call for sure...but so is everything right now except the 10's.
I'm quite surprised how beaten this has been given tailwinds, but as Beagle says maybe the market is very forward looking. I reluctantly sold my holding back in the low/mid 7's to reduce stock exposure (left STU as my main construction horse) and thought I'd regret it, however turned out to be a very good decision!
Technically speaking we have been well oversold (RSI) on both the weekly and daily charts. Daily also had diverging RSI. I took a position for this bounce and will sell a small portion once this daily bounce tops out, putting a stoploss below the lows and meaning I will be risk free on the trade. Positioning like this makes it very easy to just let the trade play out when you are looking for a longer term bottom (i.e. on the monthly chart).
8.80 looks like its the next high if they keep it hammering along...but MR B is right.. It has to stop here and start moving up.
out of the blocks and running.. up...
On the way to clinch $7 crown....