Normal
The relentless rise of gpt continued through August culminating in an opening price of $3.66 on 6 September 2012. At this point gpt was trading at a premium to nta and one of the highest price earnings ratio's on the asx. Since then, gpt has steadily declined falling through $3.51, which looked like it might hold as a support level but it didn't.[ATTACH]49131[/ATTACH]Closing out the week at $3.40 saw gpt give up the support line for the week of $3.42. If it doesn't rally from here it could easily drop back to the $3.32 lower channel bar. I find it curious that market sentiment has driven gpt to a price level higher than sgp which currently has better yield, a better price earnings ratio and is trading at a bigger discount to nta. As always do your own research and good luck.
The relentless rise of gpt continued through August culminating in an opening price of $3.66 on 6 September 2012. At this point gpt was trading at a premium to nta and one of the highest price earnings ratio's on the asx. Since then, gpt has steadily declined falling through $3.51, which looked like it might hold as a support level but it didn't.
[ATTACH]49131[/ATTACH]
Closing out the week at $3.40 saw gpt give up the support line for the week of $3.42. If it doesn't rally from here it could easily drop back to the $3.32 lower channel bar. I find it curious that market sentiment has driven gpt to a price level higher than sgp which currently has better yield, a better price earnings ratio and is trading at a bigger discount to nta. As always do your own research and good luck.
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