FSL Trust's price is being battered for losing a big part of a 15% income from a long term charter. If we think about it, proportionally, its unit price should not lose more than 15% as well. However, from a price of about 60c just before the news was made known, it has plunged to close at 44.5c today. At one point, it reached a low of 42.5c today.
MFI is in oversold territory. OBV is still declining. However, the price decline in the last 13 sessions show clearly a pattern of low volume pullback. The fundamentals notwithstanding, I sense an opportunity. I would be very tempted to buy some at the 138.2% Fibo line which approximates 41.5c. If the price should go as low as the 150% Fibo line which approximates 39c, I would probably get some.
Related post:
FSL Trust: A sinking ship?