bottom shape & broker upgraded to Buy, TP=$5.82, page-16

Aged care is a growing industry irrespective of the decrease in government funding which has more than build into the current SP price.
The shorters must be having a field day down ramping and shaking the tree loose. Now we also have those playing the CFDs for a higher stake. The end of the day, we have to look at REG itself. REG has a good track record of making profit and improving each year. It has not asked for any more shareholders capital for its acquisition. It's acquisition is accretive, thus it can only improve the profitability, whoever heard of doing business on 100% of its own capital. The loan for the acquisition is only partly funded by an external loan, more than half is self generated cash flow. The acquisition is to improve shareholder's wealth and thus it is a good thing. AMP seems to agree with this and now increased their holding in the company. The SP is at an extremely attractive level and is on the way up. It is currently trading at the bottom of the channel. With its good dividend, it is too good to be ignored at this level. Sooner or later, shorters will have to cover what they sold without their own shares. I am buying more at this level.