Australias Reece Oversold on Earnings.

REH or Reece also took a big hit with earnings. Looks oversold down 20% off its highs so around 30% to recover if it resumes its upward trend.

Earnings headlines didn't look too bad. Analysts were looking for more...

Reece FY Revenue Rose 4% To A$ 6.271 Billion

* FY REVENUE ROSE 4 PERCENT TO A$ 6.271 BILLION

* FINAL DIVIDEND UP 100% TO 12 AU CENTS PER SHARE

* FY NPAT UP 25% TO A$286 MILLION

Comment:

Reece took a belting. Might be an entry opportunity if the bottom is confirmed.