[Adding to City Telecom HK (CTEL)Position]
Dear Member:
Though I average down in only the very rare circumstance and am primarily a technical trader, I am going to average down with my position in City Telecom HK (CTEL) based on fundamental information. The company just announced financial results for the fiscal year and have experienced a turnaround with profits at HKD 28.9M vs a loss of HKD 92.2M the prior year. The company also announced a dividend of HKD $.04 a share.
I am placing an order to add to my already existing position in CTEL at a limit of $5.65.
DISCLOSURE: At the time of publication, I own shares of CTEL.
Sincerely,
Bill Kraft
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