WTE 1. I'm seeing negative divergence on MACD and Stochastics 2. A potential weekly chart reversal this week if the close is below $4.06 3. I will stick my neck out and suggest down to approx $3.60 but there is insufficient data on the chart
Fundamentally on a quick view this is not a profitable company. I wouldn't want to have almost $2.9 billion investment and make 40 mill nett profit in 6months. Even 6.2 cents per share doubled returns 3% per share at $4.00 per share. (dividend was 6cents)
I don't read the nett debt as stated. See Balance sheet receivables + cash = approx $550mill liabilities (payables + borrowing + tax) approx 780 mill
I'm more interested in real cash On a sale inventories are worth 50% or less and prpovisions for debt realise 30% of their value.
CBA PPT and maybe one other churn the shares. good luck
TWE Price at posting:
$4.06 Sentiment: None Disclosure: Not Held
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