In my humble opinion, the SRF share price will continue to teeter leading up to the release of the annual report. One could reasonably assume that the SP will be hammered after its delivery - how often are results in line with expectations (or softer) and the SP gets smashed? While many would contend that profit downgrades have already been factored in, I feel that SRF holders can expect a 5-10% decrease on the 25th August, and perhaps test new lows. Barring any unforeseen circumstances (but one can assume there shouldn't be any since they haven't alerted the market), once investors have absorbed the details and analysed the figures, it should rebound quickly and may hit the SP targets suggested above. However, if it does drop back to the 18c level (perhaps lower) after the announcement, surely that presents the faithful retail shareholder with another buy opportunity?
I liken SRF to my SIP holding, bought in relatively cheaply, held during and after the murky waters set in, saw them cleared, and have now realised some significant gains.
In any case, this is a long term hold, and I wish those that have taken a financial bath to hold steady, SRF may be a wet shaggy dog, but with spring in the air, this dog's gonna starting barking very soon.
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