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Online Share Trading

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Price drop

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smoodley
Occasional Contributor
Hi, why has the share price dropped do dramatically between 26 and 29 Aug 2013.
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10 REPLIES 10
smoodley
Occasional Contributor
ok, found the answer "DISCOVERY fell 9% to R86.41 on Wednesday following the release of a trading update which forecast lower than expected earnings. A Johannesburg-based analyst said the stock took a correction as it had risen quite aggressively without any major financial news from the company that warranted such a large rise in the stock." http://www.bdlive.co.za/business/healthcare/2013/08/29/discovery-share-falls-9-on-update
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indium
Contributor
I am interested at what price to start accumulating these again as an investor. I like business model and company, the share price growth has however been overdone recently and results were fine, but well below expectations. This is perfect opportunity to accumulate at a better price. I am thinking between R65-R70, but am not sure if it will drop this low. Chart looks like a falling knife at moment and I am wary to jump in too soon. Thoughts / comments ?
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Not applicable
it was announced that the y/y would only rise 10%...if it make sense..but already on the recover by 2%+....I think it is a good share to watch...or even invest now..as it will recover....
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mullet_fish
Regular Contributor
quality quality business - will still be growing in 10 years. To try and get in "cheaper" is risky as this one could easily go up again.....
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kwagga
Super Contributor
I started loading up here. Oversold. R90 seems like a reasonable short tern target.
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kwagga
Super Contributor
Got some at 8326. Let's see where this goes.
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Dr_Phopho
Contributor
Buying strong stocks on pullbacks is never a bad strategy.
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kwagga
Super Contributor
Yep, oversold to these levels only six times since Jan 20009.
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B4land
Occasional Contributor
it will drop below R80 and then i will accumulate.
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Brommie
Frequent Contributor
This is a quality share for a longer term investment but I think the price is going to move sideways for quite some time. Worthwhile accumulating at between 8000 and 8050.
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