Just plummeted over the cliff to 8 bucks. Ouch. Lowest in 8 years or so. I was up 20%, now I'm down 20%, but didn't have much so no biggie Opportunity to buy more and average down perhaps. I need to revisit the reports.
Ouch, thats gotta sting a little. I jumped in at 7.7 so i'm thinking all good now. Oil will be the force there though, and its not going to go up any time soon most like. If you got in at 12 i'd say you'll have a bit of a wait on your hands but unless the inevitable end of the world comes first I think it'll bounce back eventually and you'll be fine. Hope your not in a hurry to cash out though...
Yep, ORG is a real solid play at $7.70, well done. I didn't average down, a bit overexposed on the share market right now, so didn't want to commit any more cash.
These guys have burnt some mega bucks out here in Surat basin, mega mega bucks. Apparently going to cull about 800 employees, unofficially up to about 2000. Maybe a spike once this news comes out but I'm no financial advisor by any stretch of the imagination.
Would you buy this unless a day trader counting on a short term rally? Check out the volume for this month.
Yes i would buy that chart but no wont buy origin because of the debt levels they are carrying Large debts have a habit of killing companies going through tough times
Just quietly, it's not just ORG in this situation in the energy sector either. The spectre of raised rates coming from the last FOMC meeting is starting to spook the market in these high debt stocks. They over-invested in too many QLD & WA gas projects way too fast. If the oil price rises $10 then it will help but they won't be out of the woods. The fact that they are still lower than the outside Bollinger Band means it's a short for me.
With a view to what? Trading out, or holding for years? I've conceded there could be something for the short term trader, could not be too, What is there in the monthly chart yet for an investor?
Long term hold for years. Would very much like to own a large infrastructure company like Origin at a discount price. I am an Origin customer and so are over 4 million others. People don't stop using gas and electricity during a recession. Only thing that stops me buying right now is that their debt is larger than their market cap! Banks have a habit of taking over companies that can't pay their debts and destroying them to get their money back.
So chance this bottomed at about 3.50 The chart has made a few hopeful looking monthly candles for a stock that has been in a savage downtrend, but the real clue could be the consecutive big monthly volumes over 7 months. Might be a head and shoulders reversal pattern appearing over those 7 months - easiest viewed on weekly chart. Neckline say at 5.50. Prior low that should be watched is about 4.50 Position: none Sentiment: hold
I'm still holding because no real advantage to selling as it's part of my long term dividend reinvestment plan plays. Still down 50%
