Absolutely Notre, totally agree. I'm talking short/med term...

Absolutely Notre, totally agree. I'm talking short/med term outlook which is how I trade. Long term I expect that this stock will do well, but what long term investors lose is 'time' as they wait for it to recover.

Typically in a market like the current one, fundamentals don't mean as much as they otherwise would. People tend to put too much weight on fundamentals during times like this and that causes them to hold on to stocks, close their eyes and ignore what is happening around them (and these are quite often people who would class themselves as short/medium term traders who aren't disciplined with position sizing and stop losses). If the market is taking a dive (which it is, and will more IMO), it will drag other stocks such as this one down with it even if its fundamentals look good.

My view isn't that the company is a bad one to invest in, but that the current bear market is likely to take it down to lower levels before a recovery. The charts, IMO, don't show that this stock has reached the bottom of it's downtrend and the bearish market is going to last for a fair while yet.