Origin (ORG) Over The Cliff
- Thread starter SilverDJ
- Start date
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...
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...
SilverDJ said:
We are Origin customers, it will be interesting to see how this pans out as far as gas prices go.
Monsta
Member
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.
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.
finicky said:
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
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
