I've been watching this coy for a while and decided to buy some on the technicals and the changes and new approach the new CEO has taken. I believe the coy has more of a chance in its life cycle to the best of my knowledge, at growing its revenues and further into profits with a streamlined board, restructure of costs and expansion of capacities.
I see an opportunity here.
There seems to be less risk now.
On a PSR metric at this price we are paying 88c for every dollar of revenue ATM and anything below $1 in this metric is good value
If revenues grow well, the cashflow should improve and if they are growing revenue by 5-10% then it appears the board are doing well in their decisions which is something I'm investing for.
The fact they seem to be recognising what is not good for the business and what is, is a good sign.
Acting on those decisions also seems to be "making the right choices" for shareholders.
I also think they may expand overseas to reduce labour costs with the right automotive partner/s
I may be wrong about all of this, but I'd say there's more probabilities to a low risk scenario for investors to take a position for the long term
And to add finishing up, I'd be very surprised to see major downside here now after engulfing candles on the daily and weekly
I think it may be testing support with some stale holders patience ATM before buyers take over
Cheers and good luck
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Last
22.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.77M |
Open | High | Low | Value | Volume |
22.0¢ | 22.0¢ | 22.0¢ | $5.187K | 23.57K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 77218 | 21.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
22.0¢ | 128993 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 77218 | 0.210 |
1 | 25000 | 0.205 |
2 | 14250 | 0.200 |
2 | 60000 | 0.195 |
3 | 30650 | 0.190 |
Price($) | Vol. | No. |
---|---|---|
0.220 | 128993 | 2 |
0.240 | 19999 | 1 |
0.245 | 40000 | 1 |
0.255 | 3000 | 1 |
0.260 | 10000 | 1 |
Last trade - 14.29pm 13/09/2024 (20 minute delay) ? |
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