Navitas Limited (ASX: NVT) reported the company’s half-year results on the 30th of January and fell quite heavily in the days following the announcement.
The company trades ex a 9.4 cent dividend on 28 February.
Technically, I am looking for a bounce into the gap that was created on 30 January due to the half-yearly results announcement.
I bought shares on Friday 9 Feb in the afternoon after the 1 hour downtrend was broken to the upside at $4.89 as per the chart below from investing.com.
Fundamentally, Navitas is a company with high (although declining) profitability, a bit of debt, excellent cashflow, a good dividend yield and bright prospects into the 2020’s.
Will be interesting to see if the share price can fill that gap at $5.20 or beyond as per daily chart at top of this page (no guarantees of course).
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