Always regarded this and Monodelphus (MND) as in top 5 of the mining services sector. The 2 year downtrend from the top is so clear it's almost etched. The support level at $7 has looked super strong but now appears to be being breached, implying significantly more downside. Odd thing is that volume has not been exceptional so far this month, while the 3 months of volume leading up to this month has been fairly exceptional. So don't really get it, and wary atm of a 'fakeout'
So no 'fakeout', and there goes $7. ALS provides updated trading guidance 22 September 2014 [imgz=http://forums.silverstackers.com/uploads/1893_alq_dly_1_mth.gif][/imgz]
$4.48 Has fallen out of bed since loss of $7 multi year support. Price is getting down towards stocksinvalue estimation of value, but this particularly is one stock whose valuation could change quickly on earnings disappointment. You could imagine a bounce coming up here on the chart, but I can't see a compelling case for buying yet, chartwise or otherwise. Can't predict it but wouldn't be amazed if price ultimately returned to GFC low around 2 bucks! It might present a great buy at some time when commodities are believed to be coming back. Its carrying a lot of long term debt though and net tangible assets are zero. A lot of the book value would be intangible apparently, due to debt funded acquisitions. Average return on equity over 10 years is 17, book value is $3.6 Daily 1 year chart
