The play with this is shorting it when it capitulated the $1 level and showed signs of trending lower. Of course some will mey the devil for shorting stocks whilst strangely enough my reasons are the same as buyers who are merely looking to profit from their position.
The fundamental background doesn't help either with retail just view the sector being bearish will show you that , MYR under performing its sector
As a friend of mine would say you think 73c is cheap ,60c is cheaper , 40c is cheaper still.
And before people chime in to say there is no way it can go that low just consider channel TEN and its stock price or that stock we once called dick smith . However I am not predicting prices will fall that low for I have no certainty in the future of prices and What they will be , however I know what side of the fence to face and that is half the game
But until the economy and fundamentals that drive retail spend change domestically it will be a long and tough recovery in MYR.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)