break out, page-2

What leads you to think that there's "not much in the way" to 3.20? Their share prices as of 30 June for the past 5 years (most recent to oldest) have been 3.15 / 2.09 / 2.28 / 2.63 / 2.40.

A quick review of 2016/17 shows that Caroma saw a decent sized competitor leave the bathroom market (Award brands), which caused a price bump in March 2017 on the expectation that GWA would capture a good amount of this marketshare.

Caroma also introduced a price increase of approx 4% across most products, and despite this, the company only saw a 2.5% growth in revenue during Australia's biggest construction boom, which is apparently "out-performing" the market growth of 1.3% - ie GWA has moved the goal posts and decided that multi-residential (29% market increase) doesn't matter as per their "weighted end markets" rubbish.

In addition to this, the company has shed over half their workforce (1681 down to 760) in the last 3 years (though to be fair, probably about 200 of these are due to the closure of their 2 last remaining Australian factories) and you'd have to think that there aren't too many more costs that can be taken out without having some pretty negative consequences.

Lastly, their balance sheet is propped up by $314 M worth of "intangible assets" of which "Brand names" make up $302 M!

If the stock goes up to $3.00 I'd take the money and run.