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23-07-2019, 09:19 AM
#13361
Originally Posted by Chanchay
Morningstar just downgraded atm to a sell! Quick everyone sell your shares!
Let's be fair to Morningstar (for once) - they maintained their nerve and called ATM a BUY when the market took a tumble in early June because of the announcement by China of moves to shore up its own domestic IF producers.
https://www.morningstar.com/stocks/XNZE/ATM/quote
So are they right this time to downgrade?
Well, ATM has run ahead of their valuation so they are calling it as they see it.
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23-07-2019, 10:36 AM
#13362
Agreed, I think we will see $17.50 nzd soon, and nearing $18 in next few weeks, as long as there is no wider market downturn.
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23-07-2019, 10:46 AM
#13363
But in reality no one can predict the market. It has a mind of it's own.
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23-07-2019, 12:23 PM
#13364
Originally Posted by NZSilver
Agreed, I think we will see $17.50 nzd soon, and nearing $18 in next few weeks, as long as there is no wider market downturn.
Powering on.
And there’s still plenty more pain ahead for the suppliers* of cheap stock.
* shorters
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23-07-2019, 12:25 PM
#13365
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23-07-2019, 12:30 PM
#13366
Member
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23-07-2019, 12:37 PM
#13367
Last edited by sb9; 23-07-2019 at 04:24 PM.
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23-07-2019, 01:38 PM
#13368
Originally Posted by sb9
Starting to look bit toppy now (although I love it to keep going up and up).
Sceptic in me thinks that shorts might be getting ready to hammer it down harder from these levels before the results are in.
We can probably assume that there won't be any trading update as time window for that has lapsed.
Lyttleton Port data for month of Jun'19 should be out soon. That should give us a fair idea as to how the numbers might be looking for FY '19.
It's actually the other way round as the ASX shorts report shows - they are covering rather than shorting.
Beats me why you would sell low and buy back high, but hi - happy to let them power ATM along.
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23-07-2019, 01:53 PM
#13369
Originally Posted by Balance
It's actually the other way round as the ASX shorts report shows - they are covering rather than shorting.
Beats me why you would sell low and buy back high, but hi - happy to let them power ATM along.
In the hope that company would falter on some parameter or some black swan macro event.
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23-07-2019, 01:57 PM
#13370
From my diary...Jun'19 export data is due out tomorrow. Hopefully we should have clarity by Thursday on export numbers out of Lyttelton port.
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