SSX smorgon steel group limited.

will this be the range breaker?

  1. 1,035 Posts.
    While the other steel stocks have showed a bit of upwards price movement, poor cousin Smorgon has been stuck in a range between $1.14-$1.18. There seems to have been a lot of selling down over the past month every time the price gets near the $1.18 mark. Today will be the 6th time. Most of their earnings would be in Aussie dollars & they seem to have made some good earnings acquisitions, so can't understand the lack of support.With the renewed interest in steel stocks, maybe this will be the break Smorgon needs to get up to the $1.26-$1.30 mark of August/September last year?
    I hold these for the super fund cos of the divvy, but gee they're slow
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