Lol sloanrunner. I cant believe your the only poster here when this stock is clearly breaking out. Heres my thoughts
Short term chart
Long term chart
TA
This is playing out just nicely with a break out on Friday in a depressed market, was waiting for this new uptrend to be confirmed as it had to break that 56c resistance area which had three trend lines coming together. The downtrend line before the big drop, top of new uptrend channel formed and the last resistance area from the start of the year. Money flow, momentum and all other indicators including a rising volume are positive. The best part is the next resistance is +70% away.
FA
The market might have over reacted here due to a paper loss of $36.5m from asset impairment and downturn in the resources sector. Although FIFO contracts are their main revenue stream FY15 revenue of $199.4m has matched FY14 revenue of $200.3m. They have managed to find other streams of revenue in charter and tourism to offset the downturn in the resources industry. Net underlying profit was actually up 21% year on year at $13.2m. Pretty solid figures for a company with a market cap at only $62m and a P/E of only 4.4. They are also paying down debt.
To top it off Net Tangible Assets of 99 cents is a fair way north of the current share price. Its interesting that the NTA of 99c is almost identical to the next resistance level of $1.00.
AQZ Price at posting:
59.0¢ Sentiment: Buy Disclosure: Held
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