Just added small (10k shares) to my position @ 1.60 ..
View is that the TCU mess overnight is overblown and the original five will remain exempt.
On top of that, I believe if the TCU does block the other assets which are in progress.. this will effectively delay the entire divestment program and then makes the karoon deal much more important($1.5b + capex).
Todays price action is ugly, breaking down below 200 day, stop losses etc. But ultimately it is good to get rid of leveraged buyers.
This is a great time to add with three big catalysts ahead.
1. TCU tomorrow(thurs our time).
2. STJ result (waiting for TCU decision? )
3. TRF5 on 23rd March -> karoons evidence is in. Petrobras evidence is in. I think we have a strong chance here.
On top of that we have several Injuction overturns in petrobras favour - all of these assets were disposed of in the same manner -> therefore this should create a precedent. On top of that I believe there will be huge political pressure.
My 2 cents.
Goodluck,
PB
ADDED @ 1.60
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Last
$1.87 |
Change
0.060(3.32%) |
Mkt cap ! $1.497B | |||
| Open | High | Low | Value | Volume |
| $1.83 | $1.87 | $1.81 | $10.89M | 5.914M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 55493 | $1.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.87 | 47395 | 5 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |