I dont agree with the posted analysis but do agree now it not the time to buy.
Sentiment will continue to be a drag on this stock. I never thought the brexit would impact the sp in such a way but now that it has happened it will continue.
BOE left rates unchanged last week. By all accts the economy is booming. Comment in analysis on defaults is laughable. What cause defaults is serviceability and jobs. Its got nothing to do with sentiment.
At the macro level, as UK is leaving EU it is no longer obliged to contribute. So those billions will redirect domestically - into growth. Brexit was always about immigration then disputes around contributions.
I only see brexit as a non event adding some ST volatility but not much else. Its business as usual but that wont stop anticipatory fears.
CPU Price at posting:
$8.78 Sentiment: Buy Disclosure: Held
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