First it's important to point out the negatives and that remains that ALL got kicked out of the ASX50 (could see some index selling) and that investors are still upset with management over the missed target.
But looking at the chart we see the massive sell off followed by large volume on a sinking price. However we then see sideways movement on low movement and now the uptrend starting again.
The internal management review is due this month and the big boys like PPT have scooped up large stakes i.e. PPT bought over 10% of the company... they're not playing with monopoly money, it's a big call of their behalf.
The financials are solid with large profits and cashflows continuing. Now $1.70 is broken we should see the uptrend continue to market multiples (not allowing for future growth). The share price target is around $2.50-$3.00.
Cheers, Munch.
ALL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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