Have taken a position here today on the following thesis as I believe SGR can do an AMA style move off the back of a substantial re-capitalization of the business and the markets now digesting the new balance sheet.
I expect that finalisation of the Austrac fine in the short term will be seen as a positive for the stock, unless this number comes in $800m+, which based on the Crown fine is highly unlikely.
Once price action clears the trend line - 59c, the door will open for a larger move in the short term with the gap back to 71c being the first significant target. MACD + RSI both positioned favorably to warrant this playing out.
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Short interest has been materially reduced during the recap which tells me there are not many willing to bet on further price weakness from here.
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UBS latest note out with a 95c twelve month price target. Left field does the company see a PE bid come through and Bruce rolls his position into the unlisted vehicle moving forwards?
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SGR - post recap worth a look
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Last
51.5¢ |
Change
0.015(3.00%) |
Mkt cap ! $1.477B |
Open | High | Low | Value | Volume |
50.5¢ | 52.5¢ | 50.3¢ | $6.711M | 13.05M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 112946 | 51.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
51.5¢ | 48841 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 112946 | 0.510 |
8 | 393441 | 0.505 |
12 | 472249 | 0.500 |
14 | 338610 | 0.495 |
23 | 733790 | 0.490 |
Price($) | Vol. | No. |
---|---|---|
0.515 | 48841 | 4 |
0.520 | 1014326 | 19 |
0.525 | 655500 | 16 |
0.530 | 493293 | 20 |
0.535 | 476381 | 7 |
Last trade - 16.10pm 23/07/2024 (20 minute delay) ? |
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SGR (ASX) Chart |
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