PE of 99 currently is very high. Not much better at - say - $35. I calculate PEG at $35 to be 6.8, which is still quite good.
The technical is quite simple - SPs often retreat to a point where there has been a gap. A gap of $1 is big here. Just worth keeping an eye on. Also, if one squints and turns one's head sideways one could see a minor support at $37.10 or so. Maybe there?
If I had no TNE, I'd just buy now, but as I have heaps (bought under $10, but sold some before the HYly) I'd wait to top up.
Just my opinion only.
TNE Price at posting:
$38.00 Sentiment: Hold Disclosure: Held
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