Every bone in my body tells me not to buy this - but the system says yes, and I learned many years ago to leave emotion at the door (and do the opposite of what your emotions tell you). So I am in, at 2657
Bought 7000 of these at 27.54 on the news that results to be announced on 18 Nov will be greater than 20%. Unfortunately then came the CFO news on hiring consultants without proper authority. Am currently 5 grand under water but will hold till after results. Don't have stop loss but will occasionally set temporary one if I need to be away from the computer for a few hours. Not suggesting the CFO had insider info but a wink is as good as a nod.
Rams I'm interested to know what you think is going on. BTW I believe the bad news is already in the price. If I remember the CFO stated that the consultant issue went through the correct HR process and was signed off by the previous CEO "Pinky" before she jumped ship. I hear that the CFO was in favour of KTC coming to the party as they have deep pockets and lots of skills. Politically I think he burned some bridges as central command (ANC) didn't want to lose control (with PIC). What's your take.
i know as much as you do, which is not the true story, hence all the downside, so i think whatever it is , it must be so serious that the share price would take a smaller knock(comparatively) if the true story was not disclosed...as for the charts, if i were to buy now for a trade, then my stop would be at around 2604...trend up since May, and next support is at 21-22...