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$2.43 erm power limited

Oversold for sure, but there are legitimate questions about the...

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thunderhead1

7,328 Posts.

88

22/06/16

19:24

Post #: 18096856
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Originally posted by sadj89 ↑

Yes, oversold. RSI is off the charts - very similar to the drop last November to the $1.50 levels. This is past repeating itself - look at the RSI in that instance too. Off the charts, after 3 days of dumping (albeit at much lower volumes). There was no bounce, in fact there was a steady downward trend after the fact. Look at the similarities here.

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Oversold for sure, but there are legitimate questions about the viability of the business long-term given the structural decline in the industry. Will this drop bring any debt covenants into play?

Also, though the pattern is similar, this fall looks even more ominous on the chart.

Last edited by thunderhead1: 22/06/16

EPW Price at posting: 78.5¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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