TA wise PGC was looking at a massive multi year H&S pattern....

TA wise PGC was looking at a massive multi year H&S pattern. Look at the 5 year on a daily and you will see. One of the more memorable narrow swing trades last year... Came in to PGC to play the RH Shoulder and was rewarded 24% in the bank. See Post #: 33100999 & 33250175 I got out when it was clear she wasn't going to break the LH Shoulder peak. Was contemplating leaving a small parcel behind for a long position but decided otherwise as she didn't meet my long criteria.


So where to from here? I'm looking for support at $0.435 (lowest) being the inverse of the heads magnitude (blue line). This consequently is also the support zones being felt at present owing to the the early 2011 and late 2013 peaks. Anything below this and she is definitely no longer a prudent long investment IMHO. As you will be looking at a multi year consolidation...Which fundamentally is also the time frame the board needs at this point. Cut div, pay off that debt with NAB and improve on these current terrible numbers 6% ROE, 4% ROA and 4% ROC (probably worse when the real audited numbers are released).

On the bright side...there was a young investor back in the day who was looking at buying companies in this situation... the young Warren Buffett. Ticks all the boxes for a last cigar puff type of business... 0.8 PB, 0.3 PEG, 6.4 PE. Suffice to say he made a killing. But then again that's not my style...