We mentioned SGR in Thursday The Match Out Report – ” Star Entertainment (SGR) -3.58% is back trading at $1 – the counter-trend rally is now over it seems.” In our opinion, this has firmly become a trading, as opposed to investment grade, stock however we can see more +20% bounces over the coming months but MM is unlikely to participate.
- We have no interest in picking the bottom in SGR but our best guess is it rotates between 90c and $1.20 through the 2H i.e. an alternative to the Melbourne Cup!
MM is neutral toward SGR
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