looking set for more upward action

Can't believe this stock is being overlooked.

Traded at $1.86 only 9 months ago. Bottomed out at .145 cents on 23 March. Already steady consolidation and climb to .40 cents Monday 25 May. Currently found short term base at .35cents.

Huge upside for sound company. Expecting good growth out of China

For those interested Westpac Broking currently have this rated as an accumulate with the following comments released today.

* Management is comfortable with its full year EBITDA guidance excluding non recurring items of NZ$85m. This translates into 2H EBITDA of NZ$42.5m. It expects FY10 EBITDA to be around NZ$90-95m should economic conditions stabilize. Cost reduction is expected to contribute approximately NZ$7m to FY10 EBITDA.

* Demand conditions have more or less stabilized across all geographies after falling significantly since October/November last year. Asia is seeing good growth led by China and Vietnam.

* Raw material prices have fallen on the back of demand weakness and soft crude oil prices. Declining raw material prices and disciplined behavior exhibited by NPX’s competitor’s means that gross margins are likely to improve or at least remain stable for the foreseeable future.

cheers
Ange