ALFEN's earnings showed quite some weakness which made the stock drop quite a bit. Furthermore, it looked like the earnings report was changed quite late since things looked messy and for this reason I expect the drop in earnings to continue throughout this quarter. I assume they noticed that the start of the second querter wasn't any good at all and thus changed their outlook last-minute. For this reason there is a big chance that the stock will drop with it and follow the downtrend shown above.
Also, the next earnings might be even worse than expected (i assume so; mainly because of this messy earnings report), bringing ALFEN to even lower points (possibly hitting the third support zone shown). The price just retested the trendline and further downside is expected.
This is not financial advice, trade at your own risk and do your own due dilligence!
Thanks for sharing. I'm following Alfen now for a while. What are your toughts at this moment for Alfen?
Mikkel99
⋅
@paulvrijn91 sorry for the late reply. I think it is not done with its drop, i would like to see a retest of the recent bottom to start thinking about upside again. That’s technical though, fundamental i’d say around 50 is a decent area for the stock to be fairly priced in.