RE: Takeover - Forbes Article7 Jun 2023 20:16
Mav,
I’ve never really shared my view on the sp movement.
What I would say is that despite the fact that we’ve had some very nice contract wins with hopefully more to come, the market is pricing PFC today because it’s awaiting evidence that it can demonstrate that the margins from these recently won contracts can more than service the (time extended) debt and covenants.
Once more contracts are won, this dilutes in many way the margin aspect, although that’s still an important factor.
After over 6 weeks of an imminent rise on the back of gap filling which is still to materialise, I’ll stick with the macro rather than the technical.
I do believe we’ll see an upward trajectory soon but I won’t come on here and predict its timing until the macro indicators suggest I should, and it will most certainly be on the back of indisputable fact rather than technical predictions, because in my view, the volume of trades doesn’t support most of the TA predictions put forward on here of late.
Just my opinion of course.