Bullish Sign? - Bounced off 200 EMA, page-2106

Despite the upturn for service industries there are a  few businesses not doing so well of late ..notably ASL  - presenting today at Diggers and Dealers but, price-wise, still wandering around in the back blocks  23% down from two months ago following a profit downgrade from circa $112 million to ‘at least 90 million’https://www.miningnews.net/leadership/news/1199223/ausdrill-slammed-profit-downgrade
The company cited less work .
There’s also RCR Tomlinson - previously flying high - currently suspended while the extent of a major costs blowout is estimated after already losing 30% of market cap in recent months ( and director selling last November ) disclosure  I have some shares there (so much for buying to spread risk
And an unlisted company VCS Civil and Mining  belonging to the family of one of the NRW founders Nicholas John Ross Silverthorne went into receivership
https://thewest.com.au/business/joh...-latest-mining-services-venture-ng-b88740152z
Fleet of equipment for sale as of May 2, 2018 https://globenewswire.com/news-rele...d-Transport-Equipment-Available-for-Sale.html.....interestingly Mr Silverthorne was a director of Hughes Drilling when it went into administration in late 2016 ... lots of links out there ....


So it’s good to feel NRW tends to underestimate rather than over estimate.
Also impacting companies are new accounting rules :

Financial Review noted in report on RCR :
Like other engineering and construction companies, RCR is understood to have been assessing the impact of new accounting rules known as AASB 15 that came into effect on January 1.
The new standard imposes tougher thresholds for construction companies recognising revenues and costs, and have already forced Australia's biggest construction group, CIMIC, to lower its net equity position by $1.3 billion.
RCR went into its pre-earnings blackout earlier than usual to analyse the impact of the new accounting standard. Most companies start their blackout period at the start of July ahead of reporting annual results in August but RCR went into a blackout in late June.https://www.copyright link/business...head-of-earnings-announcement-20180730-h13awg