(I have no experience in regard to technical analysis and so any of my references are purely personal views and opinions at best)
1. There is still no news in circulation that i am aware of. 2. There has been a breakout out of Norfolk's share price. This breakout has been on very high volumes, which should be regarded as significant. 3. Norfolk Group's end of year has now passed. 4. Watch for any significant shareholder or director changes in the coming week as a result of last weeks volumes. 5. Citi were very active buyers early last week!
My view is that there is very strong indications, that positioning is currently taking place ahead of the next 2 -3 months of news flow.
Also note - back in early December 2011 Norfolk were tendering on excess 1.5 Billion of work, and a tax announcement must now be very close to completion and could very well coincide with the end of Norfolk's FY12 ? My own analysis is that Norfolk's core intrinsic value lays at a minimum of $1.75 to just north of $2.00, BUT with one cavet ! - if this company delivers any positive news or earnings upgrades (remembering this is a very conservative Board & Senior Management team) this will only serve to comfortably leapfrog my Core Intrinsic Value range & in very quick time if my view point proves to be correct.
NFK Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
