I have been a vocal critic of Fisher & Paykel Appliances Ltd [FPA.NZ] in the past and still have some doubts about its current management who ran the company into the ground over the last couple of years.
Having said that I do see an opportunity to make some short to medium term money here.
If we look at the one year FPA chart above we can see that the share price seems to have found a good support level in the 50 -65c range since October. It is currently trading at 1c above a near all-time low of 52 cents so fortune favours the brave but most of the surprising bad news has been brought out of the icky financial closet.
There could be further bad news from stagnant sales in this part of the world and a further drop in sales Europe and mainland America but any further bad news looks to have been factored into the current share price.
For the brave and risk loving, on further weakness.
Fisher & Paykel Appliances @ Share Investor
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