Guys, in agreement with others, I believe the direction of the price of oil will determined the direction of the price of this stock.
The question i would have is;
A) at what price does the underlying commodity become uneconomical to produce?
I believe we are approaching that time. It may churn for a while.
I find it intriguing that practically ALL commodities have fallen at the same time; ie has every single one has been oversupplied at the same time? I would dare to think that sentiment/world politics/price games has ALSO played a major role into the masses believing this is the case. As far as I am concerned when we are talking "this time is different" it is the time to start accumulating. I believe Worley will survive and more importantly gain market share.
I bought a parcel at $7.90 for a long term hold.
Slump in oil price hits WOR, page-48
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Last
$14.41 |
Change
-0.080(0.55%) |
Mkt cap ! $7.636B | |||
| Open | High | Low | Value | Volume |
| $14.51 | $14.60 | $14.41 | $25.34M | 1.751M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4685 | $14.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.46 | 4935 | 3 |
View Market Depth
| Last trade - 16.10pm 22/08/2024 (20 minute delay) ? |
| WOR (ASX) Chart |