This stock is requested by a follower based in US.
Looking at the chart, you can see that it has touch on a support level at 46.96 and there is a nice bullish signal present as well. That could means selling pressure has eased and a trend reversal is around the corner. Of course, the share price could hoover around this level for a while before we see a rebound.
Fundamentals wise, note that this company is still not profitable so that may be something that long term investors may want to consider.
Position sizing matters as it is not a buy and forget strategy. Share price can still tumble from here (nobody knows) so do not throw your entire kitchen sink into this stock (or any stock). If you like this stock and intend to hold for a long term, then price fall should be viewed as a discount and buying opportunity.
So, be clear what you intend to buy this stock for.
it is currently supported at 56 price level, a fairly healthy correction. I would be watching for the next bullish signals or see if it revisits the support at 46.96 before adding more.
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Praise God today, tomorrow, everday!
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Praise the Lord for he keep his promises to give us abundantly !!!
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142 seems to be a support level but the recent selling pressure seems strong and we might see price tumble back to 119 level. That would be a crucial support level.....watching closely
@itsNifty, thanks for your comments. Let the price revisit 67.64 level first, if it can breaks above that, then we can look at 82. Hope this helps. cheers