I recently bought FOA at low 18s. If it opens at 18.65 or so, I would be thrilled, somehow I cannot see it as all orders would have been purged after close on Friday.
Chart wise low 18s is a support zone. I hope it holds. JBW also revised down FOAs earnings, but only slightly: -1% for 2004 & -3% 2005, but they still have short term outperform & long term buy plus a $22 valuation.
They could fall below $18, but I would be surprised if it is by much. Right now the market is dumping many of the ‘high growth’ stocks & money may stay in the high yielding industrials like FOA and the banks like CBA.
I am not sure at present & could be completely wrong.
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