AAX 0.00% 39.5¢ ausenco limited

sellers continue to force price down, page-27

  1. DSD
    15,811 Posts.
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    The company has mkt cap well below 250m yet vol of trades is consistently high. Far higher than i would have anticipated. perhaps some big players have exited and SP (@ 1.70) is finally at/close to a bottom. To drop 3.1% on a day when index leapt 120 points indicates capitulation may have occurred. But AAX need to give holders a clear 'outlook' statement before confidence returns. Better to wait for chart to start increasing than to keep chasing it down. Just about every engineering stk has taken a hammering so AAX no exception. However, DCG has rebounded strongly on news it continues to win contracts. Can't see to many in sector rebounding to the same extent. May as well hold if one hasn't sold. Company does have longer term maintanence wk in addition to design and construction.
 
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