RE: First Quarter FY20182 Nov 2017 12:17
Hi Ragnar,
Reviewing your comment "Sitting on such a large cash pile and being debt free for such a long period of time shows an inherent
lack of confidence in either mgmt, the business and/or the market".
I think the issue is the company is relatively unknown.
Patience is key with SLP, seems like a bit of a slow burner at the moment...i have been invested in SLP since Aug 2017.
I'm fairly confident SLP's chart is perfectly poised for a major breakout upwards in coming months.
You have a very nice double bottom (2014 and 2016), shown clearly on weekly and monthly chart.
It even looks like we have a nice cup & handle that has formed from mid 2015 to current.
Since the start of 2017, we have formed the handle of that cup in a triangle formation - we should breakout from the triangle fairly soon.
Attempt at a drawing to illustrate in URL below:
http://www.screencast.com/t/qJMJ4Wn6gGV
This should hit high teens, as a minimum.
The tricky part comes in when deciding to sell, because this could go much higher, 35 - 50p region could be on the cards, if you willing to hold long enough.
The fundamentals and technical all stack up - so no reason for it not to explode.
All the best
J