OMG price down to the 320's
Whats up
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OMG price down to the 320's
Whats up
OK - maybe it is Global Influence
Problem with that is that it probably signals the early stages of a market rerating. Meaning that SUM, and most others, will drift down to a more reasonable multiple - somewhere around 250
However peers are still holding up. So as macduffy says maybe it is something specific to SUM, like not meeting market expectations
The old channel chart for SUM has done its dash. The uptrend well and truly broken.
Mind you the RYM chart is looking a bit dodgy at the moment, but not broken like SUMs. So maybe it is these global influences in play- bugger bugger.
Great shake out of the panickers and the fickle occurring here there will be quite a few regrets once the 2nd half sales figures start coming through, still some form of forward guidance would have helped here rather than individuals like myself having to keep picking up the phone to check where things are at.
Bascially what I have asked myself is "has the company lost 10% of its villages in a month?"
Although I'm hurting now, I feel there is no basis for people pulling out - as Couta suggests.
OK ..Team where to from here.
Share price has dropped to $3.18. Not helped by the US over night at all, however there was no real bounce when the US was up yesterday as well.
Thinking at selling half of my SUM shares to cover risk. Open to anyone's comments.
The TA say sell and the FA of say hold of SUM in my mind.
Any predictions on the bottom?
Cheers