Don't try and catch a falling knife.
Third downgrade yet?
Printable View
Yes looking increasingly likely. Interestingly since the infamous major downgrade of August 2017 where it plunged 30 cents its never recovered above the 100 day MA and has stayed in a consistent overall downtrend. Basic TA would suggest stay well away for now. Vast amounts of trouble in the building industry, why would this one be exempt ?
The chairman Peter Griffiths brought 50,000 shares late last month. Hopefully this is a good sign that the situation hasn’t deteriorated further.
Wouldn't read anything into it myself.
Recall director/management purchasing shares at well above $1.00?
https://stocknessmonster.com/announc...pg.nzx-296599/
Dean Brown, CFO - $1.58
https://stocknessmonster.com/announc...pg.nzx-302074/
Peter Griffiths - $1.41
https://stocknessmonster.com/announc...pg.nzx-306273/
Peter Griffiths again - $1.10
What I look for in this sector is consistency. In an environment where lowest tender wins, it’s tightly run companies that will make a modest profit, regardless of whether it’s a boom or bust. If you think metro has a good track record, strategy, and internal processes to control costs/review bids, then it’s a buy imo. It’s just as hard to make money in a boom as a bust. Saw today another construction company going to the wall.