There does seem to have been some heavy selling over the past 2...

There does seem to have been some heavy selling over the past 2 weeks. As if someone wanted to get out in a hurry (before results maybe).

Because it has sold off so much it seems like the potential for bad news is already in the price. If result is okay then that should be supportive from here.

Plus I still like the potential M&A upside. Between them, Brookfield and Macquarie have been looking at acquiring Origin, AGL Energy and Energy Australia and haven't been able to yet. Somebody else mentioned Morrison and Co might be interested too? There is still the chance that someone comes back for another go at AGL especially with the share price languishing.

AGL seems like a simpler proposition than buying Origin and trying to divest its LNG business. Although AGL doesn't have the advantage of an Octopus type investment on its books. AGL would also have a supportive shareholder for a sale in the shape of MCB instead of the blocking stake that AusSuper held so much better chance of getting shareholder support. As long as it comes in at a reasonable price and not another limp offer with modest premium to where it is trading.