scsl said:WOR reported its full year results on Tuesday (29th August). Despite being slightly above expectations with its 106% increase in net profit, the market has since pounded the stock because of growth concerns over the coming year.
The last 4 days has seen the sp down 13%. I'm not much of a technical trader (still learning) but I think WOR has been oversold and that we could see a suckers' bounce sometime next week. Any one think differently? e.g. are the growth concerns serious enough to see the sp fall even further? WOR has been trading at a P/E above its competitors and perhaps the market is trying price out the previous high growth expetations.
Also, looking at the candlestick chart, WOR bounced sharply after it fell to an intraday low of about $17.50 on the 14 June this year. So will we perhaps see WOR close up sharply on Monday? On the other hand, a close below $17.40 could be very bearish. WOR will be a good long/short CFD trade in the coming days.
cheers,
scsl
scsl said:WOR closed at $17.48 today. I think we could see the sp head lower soon, but I got a feeling that it might bounce up a bit before resuming south.
I am not very proficient in technical analysis (but am learning eagerly) and would appreciate any thoughts.
Thanks,
scsl
I agree, there's been a lot of that the last two months. I'm curious, do you think WOR sp will 'get going' again once the market in general picks up? Has all the negative sentiment following its dissapointing profit result and forecast been flushed out?3 veiws of a secret said:Well this share is a great 'day trading' rollercoaster -thoroughly enjoying the volatile aspect of today
scsl said:II'm curious, do you think WOR sp will 'get going' again once the market in general picks up? Has all the negative sentiment following its dissapointing profit result and forecast been flushed out?
Halba said:they are now in the design of nuclear power plants...isn't that a blue sky market?
Got up to $19.42 today, finishing at $19.22, up 3.4%. Are you on this one GP? Do you have a price target?GreatPig said:A current chart.
Struggling with resistance at $19.
GP
Because I just sold, so it's almost a dead certainty...michael_selway said:how do you know?
Thanks GP, I'll be doing a Chicken and 'loading up the truck' on this Mon am.GreatPig said:Because I just sold, so it's almost a dead certainty...
GP
WorleyParsons announces today that it’s 49% owned Nigerian operating entity DeltaAfrik, has been awarded a five year contract to provide Engineering, Procurement and Construction Management (EPCM) services to Mobil Producing Nigeria to support the execution of a portfolio of projects offshore Nigeria. The estimated contract value for WorleyParsons/DeltaAfrik direct services is USD220 million. This program of work involves upgrades and expansion of Mobil Producing Nigeria offshore facilities and pipelines as a means of ensuring the continuing operations of its offshore production facilities and supporting infrastructure in Nigeria. “We are very pleased that Mobil Producing Nigeria has selected WorleyParsons and DeltaAfrik to execute this very important project,” said WorleyParsons CEO Mr John Grill. “This is an important achievement that will allow WorleyParsons to further invest in the development of local Nigerian resources, it reinforces our commitment to Nigeria and to the provision of our Asset Integrity and Business Improvement Services core offering to clients.”
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