If you knew where the bottom or top was we would all be millionaires.
No doubt it is in a downtrend, doesn't help either when the broader market has been very week over the past week.
I ask why do you have the view that MYR should be heading lower?
Lets call MYR sales pretty much flat over the past few quarters (not declining like the share price has been). IT has sold off based on 2 analysts views in JPM and Deutche expecting MYR to have the best sales increase in a few years. This is a crazy assumption due to soft consumer confidence and the refurbishment works that have been undertaken, impacting a number of headline stores which pretty much wont be fully operational until 2Q results so for these analysts to assume MYR would have a massive sales growth since 2Q2013 is just nuts. MYR is now a $1bn company, same sales and margins as over the past year and has managed to keep growth constant infront of challenging conditions. Valuation wise I view it as attractive especially with the turn around steps that have been put in place and potential for corporate action
MYR Price at posting:
$1.74 Sentiment: Hold Disclosure: Not Held
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