I agree with most of what has been said , my concern rests with why the buyers are so eager to pay up and not wait. The volume seemed a genuine rally all the way up to 30c beyond that it seems the buyers want to be in this stock urgently and I dont know why. I don't see 40c this side of February next year - assuming the acquisition is okay but not something spectacular. I think the punters will wait until they see a half year that does not look like the last one - stability and L&R reducing the volatility. I am of the opinion that a trading range between 30c and 35c is appropriate and then a move higher on consistency.
PGC Price at posting:
34.0¢ Sentiment: None Disclosure: Held
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