Crazy stuff. I've been expecting for a while for 15c to be retested, but I wasn't sure if it would hold. I sort of suspected it wouldn't but it still feels surprising to see it. For a short while after the last quarterly I expected it would probably bounce (certainly not sure enough for me to buy back in) but once the market decided against it and the chart turned ugly in spite of the good figures, this seemed likely.
It's crazy, the value is really good now and I still have similar long term target for TNT to what I had last year, but the market really just hates TNT. It's a very interesting situation to watch, I saw the crash coming which is why I sold out but I didn't expect it to get this bad. This looks like it could get down to close to where I was excitedly buying back in 2020! :O
Even though it could still go lower and the technicals are as ugly as the current Western politicians, I'd consider this a hold from here due to the fundamental value. It could be a long haul but I'm pretty sure the price is going higher than 14.5c before the end of the year. When I sold out I was planning to buy back in the teens before the end of 2021, but I just saw better opportunities elsewhere and various signals pointed to TNT falling lower, I later expected I probably wouldn't be getting back in at all, but at this point it's looking likely to drop so low it's going to have such great value that I can't overlook it.
Definitely just sentiment and macroeconomics/fear keeping it down at the moment. I really see great fundamental value here and one way or another there will probably come a time this year where I'll consider it to be a buy. Definitely glad to have been out for the recent action!
TNT Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
