DBM is a buy under $6

DBM pays a quarterly dividend of 0.14, which is 9.3% yield.

It has fallen back to its September 2021 low, after retracing 50% of its bearish leg.

It has heavy support (14 weeks worth) at $5.81

Could it fall further than that? Sure, anything can happen.

But I think it is unlikely in the next week, as the ex-dividend date is the end of this week.

Perhaps the dividend will be the catalyst to push it lower.

I will probably accumulate a position if I can get it sub-$6 on Monday or Tuesday.

Kommentera:

Currently at 6.43 ... I never opened a position on these shares. BOY do I regret that ! I'd be looking at a 10%-ish gain over the past few months, which is certainly doing better than my actual trading account.

Order avbruten:

February, this was stuck in a trading range.

March, it has tumbled 11% or so.

I am NOT looking to buy under $6 any more; if it goes below $6, I will wait until I see some bullish indications.