Hi rednoff, D is dividend, P is a buy or sell signal that investing.com automatically generates (i forget the details of it).
I was a bit nervous when it dropped to 0.96 on closing on Teusday, was wondering if it was going to fall through its floor opening the next day, but it looks like the floor is still holding.
I think its going to be in this consolidating phase for while yet, could still be weeks. But i just cant see it going down, their earnings are solid for next financial year (no major contracts up for renegotiation), and it wont go sideways forever, if the SP stays steady then people lose their fears of capital loss and pay attention to the big dividend.
The graph looks like it will have trouble going over $1.30, and the last time it got to $1.30 there was a significant shareholder buying up big. I think $1.15-$1.20 is where the SP should be right now but it might take a couple of months to get back there. Im not holding my breath for a big announcement, i think the only significant event will be the next profit announcement, people are still looking for bad news and another report with no surprises might change peoples attitude.
SPO Price at posting:
98.5¢ Sentiment: Buy Disclosure: Held
