Petafemto,
I don't use charts, don't disregard them, but my crystal ball came with different settings and does different tricks, also unreliably. I guess it is a different brand.
I see FPA as possibly going either down a little, or up a lot short/medium term. I am confident they will sort the property deals out shortly, them get the debt provisionally sorted before getting a sp boost and/or doing a rts issue. Rts issue doesn't worry me to the extent that it is pro rata.
The risk as I see it now is if the trading numbers come in below expectation - no idea what the market expectation is, but am assuming the banks are currently getting that monthly, perhaps even weekly so they will not be suprised.
I also speculate that FPA is probably under some sort of implied John Key protectorate as far as the banks are concerned.
I realise there are risks, esp moderate ones in the short term, but my crystal ball is suggesting the long term rewards justify a prudent level of exposure ( not one of my top 5 positions).
EL
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