qantas bid the problem

If you look at the charts AFG was trading as low as $9.98 prior to an announcement on 23 Nov that they were looking at particpation in the QAN consortium bid. The sp promptly jumped to around the $11.39 mark from where it traded higher on three occassions to a top of $13.24. It has in that same period traded back down to the $11.40 mark on six occassions creating a support level at those levels. So despite the great report a couple of weeks ago these levels continue to be tested. In my opinion it must be the uncertainty about the QAN deal that is weighing heavily on the sp. After all the market is at all time highs and other financial type stocks are flying. If the QAN deal falls through or is delayed further, you can bet we will see the sp back around the pre announcement price of $9.98. But heck, I'm into more at these levels. Even without the QAN deal this stock should be flying by now and will by July imo.