last support stands at 24c

No news for auto part sale. Even ther is a sale, depending on the sale price, NLX may not get what it wants. People/punters get nervous. Currently, the large number of buyers stand at 24 c. If that is broken, it could go lower & may present a good medium speculative play at low 20c.

Recent downgrades from Aspect Huntley and CSFB (from buy to hold) do not help either. CitiGroupmalso lower the target price to a new low 32c from 45c after the FY result. No brokers have upgraded NLX after the FY result.

Medium term, NLX should be profitable (assuming no more write down, reduce debt, no acquisition) & no tax payable for at least 20 years (due to retained tax loss of $600m, courtesy & thank for previous management for doing rapid expansions under Alan Jackson, painful memory for long term holders)

As always, do your own research,

Regards,
BL