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Good points to take in:
-Pretty looking Earnings
-Automation
-Camera and LED testing
Both business segment are relevant that may promote company growth for a good long future
-Price are now looking like in undervalue range
Points against it:
-Prolong rate hike will induced pricing of products to increase
-Current high inflation can lead to low consumer buying power, less company would want to spend in expansion in automation, hence will affect earnings (lets wait for new QR to see trend)
-PRU will trigger some fear in market (more bargaining price may happen)
As of yesterday, a weak bullish engulfing in daily chart appeared with breakout downtrend line.
We’l need to wait and see how effective does this rate hike resulted in US economic data coming few weeks time ??
Revisit update. Price didn’t hit target of 10% on 20th.. but chart is looking good for an uptrend if didnt break 68c. As of today 5% confirm on hand for profit.
On other note, Asia inflation news seems improving. Which is good indication for price to maintain above 68c
