I am looking at the drop over the past few days scratching my head.
Good reliable dividend in low interest rate environment
Recent contract wins
Sizable tailwind for coming years (Govt Infrastructure spend)
Well run company making good acquisitions
From a technical perspective we are approaching the pointy end of an ascending triangle (generally considered a bullish signal), having already tested the upper resistance a couple of times. Personally i would say the direction of the breakout would be more likely to be upwards, as we are also now sitting on support at 0.35, the 50% Fib level taken from the high of 2018 to March 20 lows
My initial target for an upwards breakout would mid 0.40s, with the next serious resistance around 0.48-0.50.
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