oversold, page-2

SHL at the bottom of its trading range 2day - 13.00 was ultimate support, which was triggerred by stops and the stock fell for a few seconds to 12.92 and quickly the buyers came back in (within 20 seconds literally) and forced it back up above $13.00 key support. Now 13.09.

main thing to look for is a quick bounce and we got it, so hopefully itll start clawing its way back to its average price now that it hit the bottom of the trading range

results out on the 26th tho

management made forecasts to profit when the AUD was 95 USD! it has since fallen to 60-70 range, and the avg spot would be around 75AUD for the year. So they made a killing on foreign exchange BUT bcoz of this they did a capital raising to strengthen the balance sheet re debt and potential for future acquisitions. So the cap raising has DILUTED the extra dosh they made in forex due to low AUD, and EPS forecasts are due to come in within expectations

So at 13.00 theres upside in my opinion, coz results are due on 26th and at the cap raising announcement they said that profit to come in as forecast post dilution.

***they were anthused about a placement to raise funds coz they made so much extra dosh in forex due to weak AUD. 47% of income comes from abroad

At 13.00 it might be worth a punt back up to 13.50-60ish avg price