G'day fish good chart I concur 1.26 the next support for me if it blows thru that level 1.06 will come quickly
Im looking at the 61 per cent fib retracement level which would bring 95 cents as the logical target area the bear flags are all over the weekly chart I doubt support will hold
Shorts winding up they see it as easy money Im surprised no update from the coy this close to the EOFY if all was great why would they let the SP fall like this if all is not great re the upper end of guidance the true intrinsic value of 68 cents will come to fruition
My question is how is the US an UK business going A2m have tried to break into the US before this is the second go I can't see them making much inroads in the US the UK was at break even so any profit there won't be setting the world on fire yet the IF is where they will do ok but more competition an tighter regulations with the new tax how did that April may period affect sales ?
I would say they may meet guidance but I doubt any big upgrades will be in the full year if they were you would of heard by now for sure
How will they fund expansion into three markets will they need to raise capital you have to realise they are a small company compared to global giants in the IF space so cracking a big share in China will be very tough
Every metric you look at there are head winds hence further weakness to come
A2M Price at posting:
$1.31 Sentiment: Sell Disclosure: Not Held
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