RE:RE:RE:RE:RE:$45 by year end? I hope ur right because I've been sucked in. All ways wanted some ENGH but the price seemed too high Don't like grabbing the proverbial knife and technically looks like it could drop to as low as 30s but on the other hand at some point u take ur chances
Ya, I don't know that this is a falling knife, but it would be nice to time the market as best you can. It's still a good business, just has been overrated lately. And if enough other tech stocks have come off in the latest round of market-bashing, perhaps ENGH might be thinking now about stepping back in to the acquisitions field.
Check my thinking: unsuccessful earnings reports always lead to a decline in price of a week or two - sometimes more if market conditions have fundamentally changed (which in ENGH's case they haven't). So we should see prices under pressure right to the end of the year. I doubt there's been much margin on ENGH, but who knows - there might have been, so there would be a little bit of year-end pressure as well. That has to be settled by the 29th.
But because everybody else knows this, they will also be loopking to increase their holdings the lower prices fall, so demand (and prices) wil be under pressure. When is the point of maximum low?
I'm going to say Christmas Eve, which is a short day, and one when hardly anyone e is paying attention. I may see about averaging down then, as I have some spare cash from other more successful turnovers. It could possibly fall lower after Christmas and before the New Year, but will it?
Thoughts welcome.