Fletcher Building is a New Zealand based building materials manufacturer and distributor with operations in concrete, steel, fibreglass insulation, aluminium extrusion, roofing, access flooring systems, sinkware, laminates and panels and is involved in residential and commercial construction.
FBU - Fletcher Building
- Thread starter ROE
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I agree. A good business with excellent management and a strong position in its areas of operation. But the SP has been in a downtrend since December, 2007 and I'm waiting to see a break in this before buying.
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In a country plagued by earthquakes, it's surprising that a construction company can't manage to run a profitable business. Today's downgrade in guidance is less than one month after 1H 2017 news. Obviously management don't have control over their business. I hope their reported implementation of the Aconex product will help.
My management team (does control risk) got me out before the 1H report and I'm glad that I'm not still in waiting to earn the dividend.
My management team (does control risk) got me out before the 1H report and I'm glad that I'm not still in waiting to earn the dividend.
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Someone other than me is nibbling away at these low levels.
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Looks like shareholders are going to take another BIG hit when the shares resume trading.
FBU has announced poor news three times in 2017 resulting in share price falls. I mark these occasions with the appropriate icon. I've ignored my "rule" of not trading any company with three strikes against management and I'll pay for it.
FBU has announced poor news three times in 2017 resulting in share price falls. I mark these occasions with the appropriate icon. I've ignored my "rule" of not trading any company with three strikes against management and I'll pay for it.
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They say downgrades and the like tend to come in threes?
I had a bid in at 6 that never got filled.
Might leave it there for the 12 Feb Grand Opening!
Hopefully the Dow will have fallen 1500 points the night before.
I had a bid in at 6 that never got filled.
Might leave it there for the 12 Feb Grand Opening!
Hopefully the Dow will have fallen 1500 points the night before.
Last edited:
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How disappointing, price didn't hit 6.00 after resuming trade. Phew. I was very pleased with the open at 6.40. Price ended the day much higher than the open. Quite a bullish day.
However now that management has earned their fourth "strike" FBU has to go in my "never to be traded" file. As I'm a chart trader I'd have to wait until price gets above $8 or makes new yearly highs before I'm interested again.
There may be an opportunity here (because of today's bullish close) for those who can analyse the business properly.
However now that management has earned their fourth "strike" FBU has to go in my "never to be traded" file. As I'm a chart trader I'd have to wait until price gets above $8 or makes new yearly highs before I'm interested again.
There may be an opportunity here (because of today's bullish close) for those who can analyse the business properly.
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DIY Trader
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WES apparently took a 3-4% stake. T/O rumours abound
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Thanks for that. Makes sense
http://www.afr.com/business/retail/...e-on-talk-of-wesfarmers-stake-20180412-h0yph5
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Management is trying to contain the damage and has raised capital to reduce debt.
Price has remained near $6 since the WES news and capital raising. I've put this one back into my reversal watch-list and a close >6.10 would be interesting.
Price has remained near $6 since the WES news and capital raising. I've put this one back into my reversal watch-list and a close >6.10 would be interesting.
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Just checking that I did post this reversal opportunity >6.10.
I'm a little interested now.
I'm a little interested now.
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Another chart that caught my eye today. Some commentary below and I will be watching to see what happens over the next week or so.
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Well didn't have to wait to long to see which way it would go. Down 10% today to $4.62.
New low since mid 2012
New low since mid 2012
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looks like the bottom was at $4.26 and now doing it's best to close the gap back up to $5.18
greggles
I'll be back!
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FBU bumping into resistance at $4.80 with a significant gap to fill.
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Volume has died out too.
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After at least three years of poor management FBU is now back at GFC lows. Today's optimistic report (aren't they all optimistic?) informs us that the company has successfully started it's 5 year strategy to refocus and grow the business.
I'll be keeping an eye on the chart looking for indication of institutional buying.
I'll be keeping an eye on the chart looking for indication of institutional buying.
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Time for a heads up on FBU. price did bounce off the significant 4.00 support level, drifted down but made a higher low, before breaking higher above the last swing high. in doing this price has gone through the sloping R line indicating the end of the down trend. Last week price BO again from the shallow sideways range. Price is now very close to making a new yearly high and going higher than an older swing high.
Corporate problems may be over as the insto's* have started to accumulate.
* and me
Corporate problems may be over as the insto's* have started to accumulate.
* and me
