Was at Briscoes Salisbury St ChCh buying a skillet electric fry pan at 9.40 am this morning.Was $99.99 yesterday when we looked.Paid $40 today.
Shop was flat out.Even a que to get into their car park.
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Was at Briscoes Salisbury St ChCh buying a skillet electric fry pan at 9.40 am this morning.Was $99.99 yesterday when we looked.Paid $40 today.
Shop was flat out.Even a que to get into their car park.
BGP only 10 cents or so off major support on the chart (lows of 2017 and highs of 2014). Today's 50%+ off sale was pumping, so plenty of stock flying out the door, hopefully still at decent margin and pumping up revenue after what may have been an otherwise lack lustre Dec retail period.
Current prices could offer decent buying for yield and some day in the future capital gains, though as mentioned elsewhere, it's difficult to tell whether the retail sector as a whole has a contagion and this reliable divi payer is well past it's 50/200 DMA death cross (Oct'18) and still deflating SP.
Wadda ya reckon people, buy into support at $3.10-12 or wait and see how low it goes?
p.s. for years this stock has done well in the first quarter calendar year.
If BGP goes much lower I can see a certain majority holder building his holding.
Attachment 10274
There is nothing about the chart that provides any encouragement at this point, in my opinion.
I won't open up a new position with buying into a clear downtrend but each to their own. I must admit I have a lot of respect for how Rod Duke has run his operation over the years. Getting the timing right is the key here.
You need a longer timeframe chart, the support is from 2014
The only vaguely possible bullish pattern I can see is a descending triangle in last month or so, which could indicate a rise back to 3.40 - 3.50 but nah I wouldn't buy on that possibility certainly not yet. Ideally it could have a quick spike down before turning sharply up. But by the time its confirmed (and one should wait for confirmation) there wont be much left to take on the completion as its not really that big a pattern.
No signs of weakening sales at Briscoes
http://nzx-prod-s7fsd7f98s.s3-websit...393/294658.pdf
Good result for Q4 compared to how many other retailers appear to have done.
Forward PE on revised profit guidance 11.4 at $3.25. Looks about fair value to me.