2 points 1) The FD (Stan Whitfield) is soon to retire. He was one of the brains behind the initial MBO, listing and acquisitions. Will this have a slight sentimental effect on the share? 2) Has anyone charted the share? I need a technical viewpoint please. I'm no chartist.
IMO any investment in ENL at this stage depends on the time period for which you are prepared to keep the shares. The long term outlook (fundamentals over a year) seems quite positive. Currently I do not like the OBV volumes and the share looks as if it is trading in a downward channel. I am waiting for a very positive outbreak out of this channel before buying again.
Thx for that. I also like the company as long term but would rather trade out of it whilst it is in this sidewards/downwards pattern and go into something more positive before trying to get back when the technicals come right.
I don't know this share, but the chart is not looking too pretty. Strong reversal day on 26/03, but then the rally seems to have run out of steam pretty quickly. Turned down again while most of the market rallied. If it turns again above the last low (call it above 405), and then closes above the 200d MA on decent volume it would look like a better buy. So a close above 450. Otherwise I would stay on the side.