profit downgrade, page-13

re: profit downgrade - full text George

By that I mean that with 18m shares traded and good depth both sides, the price looks to have stabilised.

However, I'm not sure whether the next move will be up or down, that's why I am reluctant to act now.
What I do know is that it looks like a classic case of being oversold, with the stock trading at what I would describe as fundamentally good levels (that is assuming there is nothing untoward playing out on the sidelines).

Also, with a new MD looking to take all the hits up front, which is what I think he has done with this announcement, and the fact that the company has a history of disappointing the markets, I believe all the bad news is out there. The next announcements should be positive (in my view).

I have not taken the plunge until a move is confirmed one way or another, but it is safe to say that it will move off these levels one way or another. My guess is that move will be up (based on the abovementioned assumptions).

Time will tell....