Gees...... my order is about to get filled...
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Gees...... my order is about to get filled...
Hmm ... good company but now well below MA200. Might be just a blib, but might be as well something more sinister (like the markets realising that the share it too dear). Too early to say, whether this develops into a falling knife, but below the MA200 is this always a risk worthwhile considering ...
Sold mine out and waiting for stabilisation ...
eek - dropped through the resistance level at 910. Minor play now with the 900 and next major stop between 830 and 840?
Attachment 8406
Just like a number of NZ50 stocks, broken now, it's the largest NZ50 correction since 2010, so far.
I wouldn't call the PE a more reasonable level. I would just say it's lower... it's still 35 and there are a smorgasboard of good growth companies out there globally with a PE lower than 35.
Just because the market was prepared to pay high multiples for FPH in recent history does not mean it will continue to do so. This could drop a whole lot more and still look expensive.
I played around with some figures a few weeks ago.Expenditure in NZ and Mexico,increasing NZ $,very low dividend yield, and came up with a growth rate of under half the PE,so sold.Been a very long term holder.