Stock seems to have hit a brick wall around 718/722 ... After the third try I gave up ... has now tried the level a total of five times ... and failed to break up thru there. Still like the company longer term but looking to buy on dips around 680/690 . Market seems to have little institutional following at present. Not a bad rise and payoff for an asx 100 company with a market cap of around 1.2 billion to rise over 10 % in a month.
Still like this company ... accounts showed a massive turnaround and increased productivity and returns. Market is waiting for the next batch of numbers to confirm the improved situation and comit. ANN has been going down from its highs back in 1997 of just short of $20- or its high in 1994 of $29.60 ... so don't blame the lack of conviction on the part of institutions. That being said, the current numbers and projections for EPS and profits look stellar ... read the announcements and watch this one. Directors tend to talk things up ... however the numbers in this case seem to back it up and awaiting the next set in a few months to confirm the position.
Obviously, I have at present no financial interest in ANN. Do some research and read their announcements and financials ..... sorry it is a dull and boring stock compared to most posted on HC however over time I believe it has lot of merit.
Good Luck
ANN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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