Back in 2006, TCL wanted to buy HFCK at 12... The deal collapsed at the 11th hour and down came the price from 32.50 high.
Back in Mar 2009 GFC effects saw HF print a low of 12.90
In 2010 HF raced above 26/-
In 2011 & early 2012 HF
tested sub 14/- and bounced.
Late 2012 - HF is yet again testing sub 14 levels...
Market cycles... Seems HF trading range is 12 - 33/-
The dynamics of 2008 PEV, 2009 GFC & 2011 KES collapse have all tested the low of 12/- with no breakage.
HF is now poised for a sharp snapback having been left behind by the market recovery. Going forward the CBR rate cut should boost their books. But the fear baked in this stock could be due to the strict land laws as well as the county land freeze.
Buy fear...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!