I am looking at annual gross profit of 280 million dollars or so for current financial year, which will still be around 12% higher.
This does not include any writedowns.
so deduct the write downs and what we are left with.
Although write downs happen on the profit and reduce tax liabilty and also reduce the net worth of the company on books,free cash flow f around 100 million still there and all the future prospects.
Sellers/profit takers cooming at 59 .Buyers at 55,.So let us see how long it takes to go up again through 60.
After that 75 and 88 are the levels to watch on the upside.
Downside 55 ATM and then psychological level of 50
MYX Price at posting:
58.0¢ Sentiment: Buy Disclosure: Held
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