TECHNICAL
The chart above is using two forms of technical analysis. Firstly, the longterm trendline (blue color) and secondly, support and resistance zones (green color).
You can see here that the trendline has entered the support zone so these two factors should provide strong support in case the stock drops a little further.
strategy here is to go long but there is downside risk of 8-9%, hence, wouldn't go all in but dollar cost average OR buy puts to hedge yourself.
FUNDAMENTAL
On a fundamental level, the stock is currently trading at 7 P/E which is pretty cheap and is about the same level as may 2020 (coming out of the covid crash). This stock doesn't spend too much time in the sub 10 P/E so definitely very cheap and attractive plus a 2.5% dividend yield is the cherry on top.
The chart above is using two forms of technical analysis. Firstly, the longterm trendline (blue color) and secondly, support and resistance zones (green color).
You can see here that the trendline has entered the support zone so these two factors should provide strong support in case the stock drops a little further.
strategy here is to go long but there is downside risk of 8-9%, hence, wouldn't go all in but dollar cost average OR buy puts to hedge yourself.
FUNDAMENTAL
On a fundamental level, the stock is currently trading at 7 P/E which is pretty cheap and is about the same level as may 2020 (coming out of the covid crash). This stock doesn't spend too much time in the sub 10 P/E so definitely very cheap and attractive plus a 2.5% dividend yield is the cherry on top.
