Chart of the Day: Rakon Ltd

Rakon Ltd [RAK.NZ] used to be the darling of the market but has had a tough last couple of years.

After reaching a high of over $5.50 in 2007 and a low of not much over 60c in early 2009 the share price has marked ground since then.

Only after recent signs of expansion in the sector that the company operates has the stock taken off. In the last 2 weeks alone the stock has put on around 15%.

The economy and the business that Rakon operates in still hasn't recovered to a sustainable level and the share price could be moving prematurely.

Their Full Year profit to 31 March 2010 was an improvement on the previous year but still a far cry from its profit in earlier years.

Lock in profits if you are a short term investor and look for dips in share price if you are a Rakon follower and want some shares for your long term portfolio.


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