When support levels are confirmed then definetely.
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Hi Couta1 - Tempting to top up, reasonable drop today. Seems to be small volumes, probably cashing up on a win, with more negative market sentiment.
Long term SUM is certainly a winner. Short term, it could easily drop to below $3.10. There are likely to be some Australians reducing holdings/cashing up their shares with the NZ dollar so strong. Also, prior to xmas, the xmas churn happens... those people cashing up, to fund their festive/holiday season.
Check out PHB Crouta1 - unsure if you have had a look into them. They have a solid business, with not much similar competition. Growth may be a bit modest for some people, yet I recon this company is worth looking into.
Also, thanks for sharing the CNU story. I also sold out, at a loss, but much less significant to you. What a lesson that uncertainty has had for this stock. I still believe CNU will drop further, to how low, that is anyone's guess.
With interest rates due to rise next year, cash in the bank won't hurt.
Happy informed decision making
Thanks Food4Thought, I'm looking forward to Sums progress next year have half of my money tied up in the stock and happy about it, I believe Sum will be around $4.20 this time next year, yes with interest rates rising I will be putting available money back into good paying bonds as there will be some new issues coming up I'm sure.
Will look to top up around $3.00, will watch it though if it does dip under the $3 mark.
The 100 day moving average is $3.13. The fact that this is very close to the price Institutions widely supported the stock a while back when Quadrant sold out, and given good news since then, (approval of Hobsonville site and winning the Australasian Retirement Operator of the year award again), notwithstanding the fact that some retail holders cash up a bit for Christmas I expect it to find solid support in the $3.10-$3.13 range. I am happy to top up in that range and slip some into my family trust. My kids will think I'm a bloody legend when I die, which at 52, hopefully won't be anytime soon :).
I think you guys are thinking a bit wishfully to think Sum is going to drop below $3, that would mean a major correction given what the companies done in the last 6 months.