I am keeping a close on eye on SKC. There will be a time to buy this pup. Waiting for it to form a bottom on the graph.
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I am keeping a close on eye on SKC. There will be a time to buy this pup. Waiting for it to form a bottom on the graph.
the eye never lies
over the last 3 years approx its formed a head and shoulders with the neckline just above 4
should it break 4 then I reckon it could easily find 3
looking at shorter time frame view it should have found support at 4.5 (and it did try ) but it failed. so not looking good imo.
This is a TA perspective but one using different method from Phaedrus.
The only reason to hold this stock is the chance of a takeover. And this is getting slimmer by the week. Recently I read they were having to cut back costs involving personnel layoffs.
That tells you it is in a cash cow mode with negative horizons. Add in todays news and who would bother.
Far better pickings on the other side of the ditch.
Test that statement by buying some Cujo..........
today is the day for me...earnings will surprise...
I've held SKC since the placement prior to the float so have had a good run over the years and have partially sold down in the last year or so.
The biggest concern has always been the heavily geared balance sheet and in these days of tighter and more expensive credit this takes on greater importance. Fortunately, the biggest chunk of debt is from US private investors and doesn't fall due until 2012 - 2020. A lot of it is subject to re-pricing long before that, of course.
Given the company's recent poor operating performance and corporate "hiatus" I don't see it making much of a SP recovery, regardless of the state of the market in general.
I might be tempted at $2