BlueScope Steel is under Algo Engine buy conditions and we see the current selloff as a buying opportunity.
BSL reported net profit fell 70% to $186 million 2H19 from $624 million on the same time last year. Revenue dropped 8% to $5.8bn from $6.4bn.
EBIT fell 64% $302 million from the year-earlier $850 million.
The company indicated EBIT in the 1H20, had renewed caution because of the uncertain impact from coronavirus on its businesses and customers.
Value is likely to emerge near the $12.50 price level. We add this to our watchlist