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FGL - FRUGL GROUP LIMITED


bunyip2

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Hi Master,

 

That buyback has underpinned the price

and their renewed focus on core business,

seems to have struck a chord with the

market, recently.

 

It has certainly been a glorious ride from

our entry, in early Feb 2004 .....

 

FGL hit our first target on Friday, being 5.70

and the high in 2001 ..... (see previous posts.)

 

..... a pullback from here would not be surprising,

as some profit-takers move in and technical traders

watch that 5.70 level to hold as resistance, for

a short while.

 

There was some evidence of this market nearing a

high , as FGL rose on a smaller volume on Friday

and if that continues, then we may have a top

in place soon.

 

-----

 

A breakout above 5.70, should see new blood

coming in from the sides, but in that case, we

will also be alert for some resistance, at about

585-588 .....

 

..... if there's a gap up at about 585-588, FGL

will go ballistic from there ..... and that would

see us looking for our next targets, at 6.36 and

then 6.73 by the winter solstice, around 21062005

..... and exactly four years from the 2001 highs.

 

----

 

Some long-term investors would probably have

their sights set on an FGL exit, around 8.24 ..... ???

 

have a great weekend all

 

yogi

 

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Hi folks,

 

Wow ..... that was a short-lived pullback .... down

sharply for one day, then the buyers return,

keener than ever.

 

FGL has broken through resistance at 5.70 now,

so let's see if the new blood comes in off the

sidelines, to add some further support .....

 

..... looking good, FGL ..... http://www.ShareScene.com/html/emoticons/smile.gif

 

happy days all

 

yogi

 

P.S. ..... drink more FOSTERS.

 

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..... every one of them counts, Master ... http://www.ShareScene.com/html/emoticons/smile.gif

 

happy dayz

 

yogi

 

P.S. ..... buy a "box" of Fosters and have a great

boxing day, too.

 

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  • 3 weeks later...

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Hi Bear,

 

Not sure of all the details, but if they settle for an

18% stake only, then the market may drift down

a little, until the finances for the acquisition have

been clarified, with an announcement to shareholders.

 

After that the uptrend should continue ..... and FGL

should take 18% of SRP in its stride and its share

price should continue to rally, in the longer term.

 

-----

 

A full takeover bid for Southcorp would take some

time to digest and the share price may pullback into

a consolidation zone, until the rationalization between

the two groups becomes apparent.

 

Right now, 18% of SRP should give them enough

influence on the board to make some desired

changes, anyway ..... http://www.ShareScene.com/html/emoticons/smile.gif

 

have a great day

 

yogi

 

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In reply to: MasteR on Monday 17/01/05 09:53pm

fgl are holding a nice profit on srp at 18.8% at $4.17 with sp at $4.61. profit of 10%, around $80 million. not bad pocket change for a months work. why not sell them as the wine business is in recovery mode. they could repeat the dose on other beverage groups.

meanwhile fgl shareprice has taken a nosedive despite optimistic projections about their business.seems to me fgl has been oversold.

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