Definitely oversold IMO. I'm quite new to this company, but from what I can see, the results are great, growth of this company is strong and great future prospects. As jamwolf mentioned earlier from the Fosters report, the market was expecting more and I don't think the miss on expectations warrants a sell off like today.
From a technical side, it is sitting at its almost all time lows (support). How I see today's trading action is: traders gapping this stock up in the morning (11%?), previous buyers expecting better results selling out, panic comes from the traders, momentum builds and bang, goes down the drain. Also count in today: It's a Friday and it's the end of the month.
Looking at a recovery next week, but if shoots past this low-est level, I'd buy more.
Ann: 99 Wuxian delivers significant revenue and profit growth, page-8
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