Australian (ASX) Stock Market Forum

MGH - MAAS Group Holdings

Something to do with the prospects for the company that turned you off Miner? Or just the price performance. I am still considering a small buy.
 
Pullback today on EBITDA earnings guidance adjustment for FY23
Lower limit of their predicted EBITDA range maintained and this amounts to 20% growth over FY22.
Upper limit of predicted range reduced.
Chartwise, so far, it just has the appearance of a retracement, albeit a sharp one, after a higher high?

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DAILY
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MGH @ 2.46 currently.

MGH down 6c (2.4%) intraday, a bit worse than the ASX300 on a down day, but on the usual low volume. It's turned out a bit more than a normal retracement as opined above and I'm considering a bid for a first nibble @ 2.40 - the last short term low. Then maybe an add down @ 2.25, if it gets there and the candles look auspicious, as a punt on a double bottom. I've come back to MGH a few times over the last year as a seemingly attractive prospect as it gets cheaper price wise (not necessarily cheap by intrinsic value, only a chart follow)

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ALL DATA WEEKLY
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Market responding well to MGH's full year result today, up 9% intraday.
Seems a bit risky buying, considering about 65m shares come out of escrow tomorrow Aug 18. I guess most of those would be owned by the founder/M.D Wes Maas though and unlikely to be dumped?
Only a shade improvement of bottom line cf FY22 - see EPS highlighted. Shares have been increased from 297m at FY22 to 329m at last notice due to acquisitions.

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