Technical Summary: The long term chart of OHE describes one of the great value destructions on the NZX. With the stock going from highs of around $6 per share to lows of below $0.60. A ten bagger in reverse, as Peter Lynch would say. There has been some respite for shareholders recently with a complicated takeover deal announced in the form of a share buyback. With the buyback range initially between $1.16 and $1.26 per share the stock appropiately gapped higher. Inexplicably the stock then pulled back to around $1.00 per share providing an excellent buying opportunity from a risk/reward perspective. The stock then moved higher again on the announcement that the bottom end of the buyback range was going to increase to $1.20. Still, this brings little solace to long time holders.