Been in a downward trend for just over a year now..
Been in a downward trend for just over a year now..
Great sleuthing ;);
However - what makes you think that this could not be the bend in the trend?
Last minimum was in March 2018 - since than higher highs (well, depending on how you measure them) and clearly higher lows.
MACD just turned "green" - indicating the start of a new uptrend.
Why do you think the share is still stuck in a downtrend?
Big queue?
Attachment 9706
I guess it depends on your definition of "big" and "queue".
Have to concede TA doesn't look especially encouraging right at the minute but as Percy reminds us from time to time share prices follow earnings...
My thinking behind buying in before TA confirmed a new trend is this stock is very cheap and sometimes you have to go with FA over TA and let TA follow after all there is a vast number of fully priced shares on the market and it is very difficult to find real value with growth in EPS thrown in for nothing. No growth PE with the current low interest rates, (amendment to Benjamin Graham's 8.5 PE for no growth based on 4% risk free 10 year rate) I reckon is 10 based on 10 year Govt stock under 3% presently. Turners are trading on ~ 10 times last years earnings therefore I maintain that effectively shareholders are getting the growth for free and a divvy yield of 8.2% gross...so we're being paid handsomely to be patient and get free growth...how good is that !
I could think about a number of reasons for people to buy newer but pre-loved cars now (or soon-ish) ...
- old car breaking down? Remember the overall age of the NZ car fleet ...
- looking for a more reliable ride ... (again ref to age of our car fleet)
- looking for a safer ride ... some people do appreciate the higher safety rating of newer cars.
- looking for a more economic (but still affordable car) with petrol prices going up?
- the urge to invest the gummit's winter subsidy not just in smokes and booze?
- feeling rich after all these expected outrageous pay rises this year?
So many good reasons to look for a better used car.
This must be glorious times for a well organised one stop shop serving second hand car buyers with cars, finance, insurance and maintenance ...