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01/02/17
17:55
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Originally posted by Jako64
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OK, I don't have any particularly strong views on this individual stock.....is it the actual stock, or the sector you are most interested in ??
Anyway, the price action is currently looking somewhat weak in the shorter term, although it is moving inline with the XJO to a reasonable degree.
Looking more longer term, after the serious price failure in October last year, there are numerous indications of strong accumulation, so this current sideways action since then maybe a steady base that is developing for the future.
For an entry (entry price is always important, especially for a growth stock), I'm just wondering what will happen, or how price will react if/when price comes back enough to test the 2.15 or 2.12 levels in the near term.
If it was me and I was ready to enter for a LT portfolio right now , I would consider staging the entry (into halves or quarters), or wait for more clarification of the overall market, sector and stock direction before entering too heavily in the very near future.
FWIW I remain relatively bullish in the medium term, at least until something serious happens to change that view.......
cheers
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Thanks Jako, yes i like both the stock and the sector with a LT view. ST hospitals are copping an even bigger hit in sympathy with US, but of course Trump's health policies don't affect us (directly). FA looks good. Cheap for the sector. Sell off an overreaction for anyone looking beyond a few months.