" A2 Milk has further to fall
On the other side of the board, former market darling A2 Milk dropped 4% to $7.90 - the stock’s lowest price since January 2018.
Brokers and analysts are predicting a fourth earnings downgrade from the company, which disappointed investors when it suddenly revealed a key export channel which operated out of Australia had collapsed.
Yesterday, brokerage firm Morgans warned retailers in the China market were discounting inventory and said another earnings downgrade was possible.
Citi Research echoed their concerns, adding that Chinese consumers are increasingly preferring domestic brands over imports.
Craig's Investment Partner’s McIntyre said analysts had reached a consensus that further downgrades were the more likely outcome.
“Another downgrade and then potentially that’s when you might buy,” he said. "
I will agree with above assessments of various brokers ...Now the down trend is fully entrenched and it need capitulation and then longish base formation ...
Anyways Craigs says one more downgrade and then can start buying ...so maybe around 6.50 to 7.00 mark