Based on a cursory glance this small cap asx listed financing company looks undervalued. I would be interested to hear from anyone who has done some actual research on the company.
What was a potential 3 month base broken to the downside with increased volume. With the expected half year loss reported two days ago, doubt will now gnaw away at share price. Exposure to UK/Europe and continuing Oz retail weakness?
Do you like the chart of this? Have to admit I was wrong in my earlier charting assessment; the market sentiment is plainly for a bottom. I won't be buying though. Skaffold continues its hopeless record for picking future intrinsic value and market responses. Thinksmart (TSM) was one out of five star stocks for 2012 published by Skaffold in the Feb edition of Money magazine. Of all the stocks on the ASX, two out of the five that Skaffold chose for 2012 were TSM which lost ~50% over cal 2012, and Seymour Whyte (SWL) which lost ~60%. They did pick Codan (CDA) though which was a winner. TSM has been sharply downgraded by Skaffold to B5 and current and future year intrinsic valuations are: FYs 13, 14, 15 I.V. .06c, .15c, and .24c Skaffold sees the stock as 80% over-priced against FY14 I.V The chart's been saying something different for more than 6 months. There's a bottoming pattern there. The high weekly volume bars are all positive. The indicators diverged against price for 6 months before the second bottom was made. Now a break above 30c is looking more likely than not. Who do you believe - Skaffold's program with its estimates from anonymous fundamental analysts or the chart? Skaffold's 2013 picks for Money mag are: DCG, CWP, MYE, CLO, FLT. But obviously you should treat them with a lot of caution considering the record. In fact it makes me nervous that I'm in two of them: DCG and CWP.
