Australian (ASX) Stock Market Forum

MCE - Matrix Composites & Engineering

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skc said:
The $2.4m loss was helped by +$5m in tax. Operating loss was $7m.

The market is being pretty kind to them imo. IDL got hammered 20% for delivering a flat result.

The $3 support on the chart is broken so watch out below...
Click to expand...

It was a very poor result. It could be sitting down around the 2 dollar mark very shortly.

You need to be very patient with this one. I think it was always going to be a poor result this time. The next twelve months will tell whether this stock sinks into oblivion or makes a Lazarus like revival.
 
fanger said:
Well MCE didn't perform to badly today all thing considered. It could have been a horror day.
Click to expand...

This reporting season has seen some strange price actions on poor (in my view anyway) announcements.

BKN - fell 5% soon after open but closed 5% higher by end of the week.
SAI - fell ~10% soon after open but now fully recovered.
DCG - fell ~6% and now a new high.
VOC - fell ~5% and now almost 30% higher.

Some may be there's hope based on today's candle :confused:
 
How are you fundamental guys valuing this thing? For instance, Robusta, why $2.77? There is absolutely no earnings stability, any future assumptions seem to be "guesses" at best unless you are an industry expert or very close to the company. Highly cyclical businesses like this are way too hard for me (at this point?), I'm afraid.

Other than that, could be good for a short-term technical bounce, perhaps... but I wouldn't be brave enough to speculate on that with real money.
 
skc said:
This reporting season has seen some strange price actions on poor (in my view anyway) announcements.

BKN - fell 5% soon after open but closed 5% higher by end of the week.
SAI - fell ~10% soon after open but now fully recovered.
DCG - fell ~6% and now a new high.
VOC - fell ~5% and now almost 30% higher.

Some may be there's hope based on today's candle :confused:
Click to expand...

We're passing into a more positive mindset with regard to stocks in general.
It's a good time for indiscriminate buying of beaten up stocks.
Expect many legendary traders to be born!
 
Most of the bad stuff is out of the way. I got the impression that they have really bottomed out. Margins should start to normalise with the new capacity at Henderson (CAPEX is done too) and they've said their quote book has started to lift. Plenty of people have been burnt on this one though, so I imagine there will be no need to pile into the stock just yet.
 
McLovin said:
Most of the bad stuff is out of the way. I got the impression that they have really bottomed out. Margins should start to normalise with the new capacity at Henderson (CAPEX is done too) and they've said their quote book has started to lift. Plenty of people have been burnt on this one though, so I imagine there will be no need to pile into the stock just yet.
Click to expand...

Yes that is what the report is saying (hope it is right coz I am still holding) but if it doesn't live up to expectations over the next year MCE will sink like a lead balloon.

And you are right if you are not holding you have the luxury of waiting til things definitely turn around with some solid numbers.
 
Showing a bit of relative strength over the last few days.
Buyers seem to be stepping up when it hits 2.80 or so.
I presume traders will get interested if it can break out of 3.50 with a bit of volume
 
Intrinsic Value said:
Yes that is what the report is saying (hope it is right coz I am still holding) but if it doesn't live up to expectations over the next year MCE will sink like a lead balloon.

And you are right if you are not holding you have the luxury of waiting til things definitely turn around with some solid numbers.
Click to expand...

People are buying because MCE painted a rosie outlook in its report, as intrinsic said if they don't live up to expectations the stock will get hammered.
 
View attachment 46267
fanger said:
People are buying because MCE painted a rosie outlook in its report.
Click to expand...

Is that so?:rolleyes:

What about: MCE Gaser.jpg
 
Bumped it's head on resistance at 3.40 and headed back down a little, finished on it's lows for the day but on lower volume than it's recent run up from 3.00
Needs to get past 3.40 with volume to be considered possibly on it's way.
So may turn out to be a false start.
But I'm no tech analyst so feel free to call over rule!!
 
McLovin said:
I got the impression that they have really bottomed out. Margins should start to normalise with the new capacity at Henderson (CAPEX is done too) and they've said their quote book has started to lift. Plenty of people have been burnt on this one though, so I imagine there will be no need to pile into the stock just yet.
Click to expand...

Looks like they had bottomed out but damn they've run hard the last couple of days.
 
Yeah this one is a rocket when it moves. (last time however pumped up by R.Montgomery so will need to remember it may not have that baking it this time.)
Check out the weekly to see that if it can get pas $4 with a bit of attitude it's still worth a shot!
 
Intrinsic Value said:
I just can't fathom this stock. :confused: Running very hard at the moment.
Click to expand...

Director just sold 1m shares on market. May be that will dampen the enthusiasm a bit?

Here's my hypothetical short trade trade @ $3.75 with stop at $3.85.

Target $3.40.
 

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