I have been watching the share price of Freightways Ltd [FRE.NZX] increase significantly over the last month. The share price has risen 40c or 13% to close at $3.45 yesterday on higher than average volume.
There hasn't been anything of a material nature for the rise in share price but the positive result out in mid February may have something to do with it and the market could think that prospects for the company for full year 2011 look better than they did last year.
I am not convinced either way as to what the company is going to bring to the market for 2011 and further on into 2012 so the recent share price rise might be a good opportunity for short term speculators to bail and for long termers interested in buying to be a little patient and wait for a pull back.
Buy on weakness.
Disc I own FRE shares in the Share Investor Portfolio
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