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clock Created with Sketch. 18/10/19
14:20
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Originally posted by chuk:
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I posted a while ago that I sold out because the chart looked like it was forming a topping pattern. I had no other good reason for selling. I thought and still do think that this is a great long term stock. However I got in late (original purchase was just above $1.10) and didn't want to risk good short term gains turning into a loss with the way the chart was looking. The support finally broke and the stock plummeted. I'm a bit surprised at the pace of the fall but it has reached a price where I would have liked to get back in. It appears to at least temporarily have found strong support around here over yesterday and this morning so I have bought back in today at $1.01. I haven't over-committed, mainly due to funds locked up elsewhere but also because it's certainly possible to see a bit more downside yet but I had to get some exposure here. The chart is certainly nowhere near its topping formation so share price risk has diminished substantially. Trade war risk has also reduced a little as well and I can't see anything else having changed negatively. I don't see any problem with short term cash receipts dropping. That's just a timing thing at least partly due to early payments boosting last quarter's cash receipts. The main risk that I was concerned about after I first bought was pricing risk and that is now much less of an issue for me.
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I couldn't resist again today, at under $1 and no real negative change to the fundamentals, pressed the button.
(20min delay)