DELOREAN (DEL:ASX)DEL was in a falling wedge pattern after entering the asx and hitting $0.42c and falling as low as $0.18c but has since broken out of that pattern and looks like it's ready for a reversal. IPO price was $0.20 and it's currently consolidating around that price area. It also recently confirmed a lower higher. DEL looks like a solid buy at it's IPO price of $0.20 with the company showing promising financials, revenue, net profit, no debt and a P/E of around 6x. It's definitely a long term play but could provide some solid returns in the short term as it's financial data is signally it to be undervalued. DEL also has a 54% Return On Equity which is very impressive.
*Note, This is not financial advice.
Long
