fact is things have barely changed and the only update I can provide is based solely on gossip.
YTL - you don't need me to see that the chart is in a slow upward trend with strong consolidation at 17c.
I'm very happy with this stock, strong management and a good turn around story being bought up and sold off on a strong fibonacci based pattern. (17c is the retracment btw). This will run again soon on any positive news and imo the current price is right for re-entry if you are not in or to hold if you are.
I have heard no further word on the mooted restructure by Norgard Clohessey but keep an eye on Futuris. WA is the base for a majority of these timber managers one way or another and its a small town.
I don't currently hold YTL because I have spent a fortune buying GTP whilst they have been weak.
FEA - I've consistently pointed out this 39c nta and it was reconfirmed today $80 million nta with 203,900k share on issue.
I had heard there may be an announcement today but its not what I was looking for. As I've posted before the whole company seems to be in the starters gate.
Its been rumoured for quite a while now that they FEA where on the verge of being taken over and that it only remained for the i's to be dotted etc. But this has been going on for months. The nta being what it is any competitor would be mad not to look hard. Even a 100% premium to todays closing price would reap a huge windfall.
Even if they decided they couldn't be stuffed growing trees anymore and selling everything in a fire sale one could reasonably expect they would generate AT LEAST a 20c capital return!!!
Technically I was looking for 9.5c once FEA broke support at 61.8% (13.5c) and 100% (12c).
10c will do me fine. I hold a substantial number at prices just slightly above todays close.
Significant (for FEA) buying support returned today at around 11c so I would watch this closely and maybe not sell just yet ?
But as always this is just my opinion...
Sorry once again for the delay in responding Nickbell.
In general terms I still strongly believe a number of these companies will bolt post 30 June (especially GTP when the artificial cap of the DRP calculation process is removed, If you want to see a share price being professionally capped watch GTP. Poetry in motion. Sweet.)
FEA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
