posted
This company has taken a pounding in recent months way off it's high levels. The stock seemed to bottom out around $1.00 per share a week ago and looks like it's ready to recover some. I still see it as oversold at it's current level of $1.60. Any thoughts on this one guys? Huffy is going to report earnings on June 10th and they seem like they are very close to turning the corner and returning to profitibility in 2005. Any thoughts or feedback are appreciated.
Cheers
[This message has been edited by Chicoman (edited June 02, 2004).]
posted
Hard to say but I would guess it will show some consolidation after recent rise, forming a pennnant pattern. Then may be ready to go up more.
IP: Logged |
posted
i like this one.. both its RSI and OBV are on the uptrend... its finally above its 20 MA and today it formed a "morning star" on relatively high volume...i see it continuing its uptrend ... im surprised its still listed on the NYSE considering what its trading at now... i will put a buy order for this one tomorrow..
IP: Logged |
posted
well after watching this stock and seeing the recent news I'm not touching this. Reminds me of Dan River (DRF) that tanked to this level then was delisted from the NYSE within weeks and is now trading on the pinks for $.08 per share. With the recent delays of earnings and a warning from NYSE last week about possible removal from the NYSE. The NYSE doesn't screw around like the NASDAQ giving companies months to comply with guidelines. Huffy has an enormous debt over $85MM and bankruptcy could be an option down the road especially if they get delisted from the NYSE and loose institutional investors. This exact same thing happened to Dan River (DRF) several months ago....they buried themselves and couldn't come back out of the hole, however their debt was considerably larger over $250mm. I don't know if Huffy will need to file Chapter 11 but it's similar situation just like Dan River.....successful companies who've fallen on hard times. I'd suggest you stay away from it. Just my 2 cents.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
