Whilst many go on about the cash, I think about the massive debt that Colt still have. They have been using their cash to buy back this debt, ie bonds, which means the cash has not been spent to grow or enhance the business, which has stagnated as a result.
Past 30% growth in earnings is now down to 4 or 5%, and cost cutting has been the focus which can not kept being repeated without adversely affecting COLT's operation.
As the US now looks like taking a bit of a downturn due to the building sector being hit by higher interest rates, and the chart looks weak to me of late with a pennant shape about it, together with the ma's now weighing on the 200ma, I think a break downwards quite hard is likely
The trend has been down since the July top, and a lower low could now come in to bottom of channel value circa 49p
Which is why I have been saying 50p is on the way on t'other thread bout the donkey
B
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