Timing is a matter of your TA reading & investment time frame. From a long term & FA standpoint, EQNX is a great buy in the 17s - good growth & balance sheet, cash to weather a downtrend or invest in R&D. Technically, I was surprised by the extent of the downturn - I was hoping for support around 19. NOT. It's going to be at or near lower bollinger band after today, but RSI & stochastics are a long way from oversold. I personally do not like to make overbought/sold calls unless the 3 are in synch. So it may trend lower short term. And unless the market tanks, next qtr (replacing .19 with something in the 30's) should place EQNX back in the 20s, hopefully to stay.
The growth/PE #s remind me of last summer - frustrating, but ultimately destined to be recognized long term IMHO. If the current dynamics continue - decent sales growth, expanding margins, share buyback, EQNX will likely be high 20's a year from now. Still undervalued, but considering where EQNX was last August, it's been a big winner for me (in at 9 7/8), Scott |
