Yes I'm watching this one closely for possible re-entry after I free up some cash elsewhere. This one has range traded for nearly 2 years now - although quite a wide range. I think that the 'skewing' of profits to one half of the year contributes to this as pretty much this means that unless guidance is given that this is really a report once a year stock. However we are close to getting confirmation of the second half result and all being well and it breaks 70 cents with volume then $1 might not be that far off. But it has been up here before and failed to break through so I would rather pay up 70 - 74 cents with a stop loss at 68 on confirmation than load up here at 66 and then see it retrace to 52. Although mind you - with Wall St having another wobbly last night I might be tempted to turn to the weekly charts and see the trend of 3 higher lows since April 2005 ? Well - I might take an entry then at say another higher low in the 61 down to the 58 cent zone in readiness for the full year report. This area is supported by 3 upward sloping weekly ema's for 13, 26 and 50 weeks in a tight band that may offer a nice solid entry with a stop loss down at the 53 cent level - just beneath the 100 week ema that has never been tested and it always is nice to enter with a stop in a position that is unlikely to get hit ;)
mmm... yes - an entry at 61 with a stop at 54 would be nice in a weak market over the next month and then add to that position on a break of 70 cents with volume later when the financial result and outlook is confirmed as good. Then off to $1 ?
Might not happen - but is my plan at the minute on what appears to be a good and 'cheap' stock.
FEA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
