giz, it's a hard call buying this one, maybe T/A indicators are the way to go. I picked up a fair few at $1.90 the other day so I guess I'm not the one to give an accurate idea of buy levels.
There's a big seller in the market today at $1.86, keeps taking the big buyer at $1.86 but this $1.86 buyer keeps loading more in and so far seems to be happy to take as much as is thrown at him. Maybe this is the bottom on this dip or maybe it will go down to the low $1.80 level, who knows?
Although the market is now looking more at all the fundamentals of RDF it is still partly driven by announcements. If you are a buyer a good announcement can kick the price considerably, it will usually drop back but most times end up at a higher level than before the ann.
Funny enough, the market seems to place more emphasis on new contracts won in Australia although these have nowhere near the potential of US contracts. Just at present there are a number of contracts under tender in Australia including those Victorian contracts that Poltech failed to deliver on. Redflex will not necessarily get a home run on all of them but is in pretty much the box seat with from what I can see their main competition coming from the European company Traffipax.
A good Australian win may see the shareprice quickly run to $2+.
Add to My Watchlist
What is My Watchlist?