A 10% plus pullback from its highs now. The herd mentality on a stock like WES is quite remarkable - everyone jumping on and pushing it to $67 with a sky high P/E ......then someone blows the overvalued whistle and the herd jumps off.
WES a quality company no doubt about it but the sp did get way ahead of itself.
I’ve been waiting for a ‘buy the dip’ opportunity and its now presenting itself. The question is at what point does it become fair value again. Even $57 only takes it back to where it was 8 or 9 weeks ago.
I’m a little underweight WES and will definitely be a buyer again soon - watching with interest.
WES - When to Buy the Dip ?
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Last
$74.63 |
Change
-0.160(0.21%) |
Mkt cap ! $84.64B | |||
| Open | High | Low | Value | Volume |
| $75.80 | $76.05 | $74.42 | $162.1M | 2.243M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 30 | $74.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $74.63 | 3630 | 1 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| WES (ASX) Chart |