SKL Chart

[Phaedrus]

This stock gets little exposure on ShareTrader, though I have noticed that some admit to holding it. Some technical points of interest are :-
SKX is in a short and long-term uptrend.
Prices have broken above short-term resistance (magenta line)
There has been an upward breakout from a symmetrical triangle formation.
Price action has moved back above a 200 day Simple Moving Average.
There was a clear Price/Volume climax in April. (These often mark significant turning points)
Price action is above a shorter-term moving average, such as would be used by those trading this stock.

There is an obvious Buyer/Seller imbalance, as you can see :-

I would be interested in others views on the fundamentals of this stock. No rampers or knockers please. Reasoned factual balanced open-minded comment is what I would value here. TIA.

(Title updated 6/10/06)

[Bobby]

This copmnay has done well with its hedging policy - I guess positives have to be drawn from the hogher cmmodity proces abroad which tend to suggest increased buying/maintence of the rural materials which SKX supplies. Further, the lower NZ dollar should be of assistance. PE is not outlandish and has a good divvy. I am happy holding as a quiet achiever with long-term prospects. In the meantime, I am happy receiving myy divvy cheques.

[JAMP]

Phaedrus, have been a happy holder since Dec02. Funny to think that it was a little over two months ago that I was hoping someone would post a chart on SKX. You aren't back-testing my portfolio are you? <shudder>

You may find a little fundamental analysis here. I guess it depends how in-depth you wish to go.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

[Othello]

Hi Phaderaus
With SKX I noticed on the T/A side that the ADXR has climbed up and that it has just broken a short term resistance level , my one problem with this stock ( maybe 2 or 3) comes from the long term trendline from OCT 02 touched mar 03 ,and sept 03, broken feb 04 and now sitting on or just below this line. ( how ever once $1.35 resistance has been breached with conviction then the up trend has resumed) I see that it has completed 5 waves up . So will be interested to see if it has just completed 3 waves down and is now in the next phase up. Saying all this i have just bought SKX.
Thanks for yr posts Phad i enjoy reading them. just wish i could post charts on here to show what i mean sometimes

[Bob Marley]

Hello Phaedrus mon. About SKX fundamentals, I notice that two of the better NZ fund managers have recently exited SKX. Fisher Funds exited Nov/Dec 2003 and Brook exited Jan/Feb 2004. Both had been holders since listing. This tells me fundamentals can't be too flash mon.

[craic]

As a holder, it has gone close to the cut-off point in my portfolio probably for the same reason as the funds managers exited - it's too sluggish. No real movement reasonable return but on the Buffet logic - is ths the best place for my money at this time? the answer is no. My holding is small and not enough to sell on its own. I would need to sell something else with it to create enough funds to bother.

[JAMP]

craic, I get the feeling that you are less than 100% positive you want to quit your holding in SKX. What cost to hold until such time as the annual result is announced in a little over two months time? There is unlikely to be little in the way of press releases to impact the price significantly between now and then.

To my mind the domestic agricultural sector has had sufficient time to adjust to the comparatively higher US Dollar environment that we are presently operating within. I am not saying that they are over the moon with the current NZDUSD rate, but they have had time to adjust.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
Unlisted: KCE SUB

[Phaedrus]

Bob, It is good to be aware of that sort of thing, thanks. It will be a sorry day, though, when I start basing my investment decisions on the actions of fund managers. You see, I don't consider them to be any better than me.
SKX is in a nice little uptrend. When that ends, I'm out. Right now, fundamentals don't come into it.
Maximum respec, Phaedrus.

[Bobby]

I note SKX finally seems to be shaking off the shackles of the $1.30 upper limit - I expect this upward trend to continue as this seems to have been undervalued (perhaps by simply being ignored) for quite a time. Seems to have been stuck for too long in that 1.20 to 1.30 band. Go go go SKX

[Phaedrus]

A nice tidy example of Resistance, when broken, becoming Support.