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drop in share price to below 370-00

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Sifer
Not applicable
Why is Aspen share price being punished to such and extent? Pete
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36 REPLIES 36
Not applicable
Simply a multinational pharma giant cut its shareholding in APN. Secondly the earnings and the shareprice are not talking to eachother(its an expensive share on e PE basis). Great company but not cheap
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Regular Contributor
Complex business for the average investor - with small share (excl RSA) in many international markets. Makes it hard to really figure out what is happening. Too many JV's, licensing deals, contract packing to really understand. On the other hand, trust management (excellent) and enjoy the ride!!
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Regular Contributor
If you analyse the 3 year trend, it appears that it is heading for support at about 35600c (long term support line); if it does find support at this level it is likely to be a good buy...
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Not applicable
The opposite is also true, if doesnt hold a nice short
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Not applicable
The opposite is also true, if doesnt hold a nice short
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Super Contributor
Frans de Klerk(talking technicals) has been warning about that head and shoulders for a couple of weeks now. It is right on the neckline now. If it closes any lower tomorrow it is in a bit of trouble(R300 maybe?)
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Super Contributor
How accurate is the H&S. Saw Anglo also going there and then went the opposite. SHP also tethering on a potential H&S. APN, SHP both good stocks, are they simply just overpriced and the H&S is a result of indiscriminate buying?
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Highlighted
Frequent Contributor
failed H&Sh bullish, as you well know, Penny
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Regular Contributor
It look like that we may get a bounce from the long term support line; need few days to confirm (so hopefully a failed H&S!)
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Super Contributor
Yesterday 4th highest single day volume since Jan 2014. Today also in the top 20 days since Jan 2014. PE = 28 based on OST media consensus HEPS of 1299c for June15 FY. This is lower than historical low PE of 30.96.The demand has certainly not waned so let's hope the long term support holds and we see a bounce.
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Super Contributor
Watch for a retest of 37200c, and if neckline breaks to the upside inverted head and shoulders would have failed which is a big bullish sign. Else if the neckline holds downside target on this one is 34400c and 30500c
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Super Contributor
I have gone long based on the support of the neckline and the longer term uptrend,plus it is oversold.
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Super Contributor
..but we're trading below support neckline which will now act as resistance. I'd rather wait for the neckline to be broken to the upside.
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Super Contributor
I see a downward sloping H and S. On my chart it is on the neckline now!
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gamma
Contributor
Russ, neckline looks to be broken ... anyone going short from here?
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Super Contributor
Yes, I closed my long and went short. Supports are definitely broken now. I think any bounce is shortable.
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gamma
Contributor
Yip, have done the same - looking to the 322 level
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Regular Contributor
Will add more Long positions under R350!Bleeding here!
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Regular Contributor
Brave ....will be watching...good luck !
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