Neil_WA, You should not worry too much as I think you picked up the SAE shares at almost the bottom price levels, there are several reasons for this point:
- technically the SP has a strong support at the 38-40c area
- the 40c levels corresponds to a 50% (exactly) Fibonacci retracement level after a move up from 29c to 51.5c
- fundamentally the company being debt free with cash on hand at 31 March 2008 at A$8.6 million has a buy-back program and has acquired its own shares at prices ranging from $0.30 to $0.38 totaling $307,451, so I think the company will try to buy more shares at the same level prices as before from very nervous and inexperienced traders due to SP drop from a 50c level
SAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
