Upside Break For Select Harvests?

This story features SELECT HARVESTS LIMITED. For more info SHARE ANALYSIS: SHV

By Michael Gable 

The last week has seen the Australian market hold steady with concerns about the bank levy offset by some firmness in oil and other commodities. The Australian dollar continues to be a key indicator in our opinion. The fact that it has held steady in the last few days contributes to a flat market. If it continues to show signs of weakness, then expect the outflow of foreign investors to continue. In the meantime, for today's report, we have analysis on Select Harvests ((SHV)).
 

SHV looks interesting here and we could be weeks away from a major move. The stock rallied strongly in April last year, bouncing from $4 to nearly $8 in only a few months. Since then it has been easing back in what looks like a consolidation against that rally from last year. The range is tightening here and the stock could go either way, but most likely we would be waiting on a break to the upside. If that were to occur, then the shares could potentially rally very quickly back up towards $8.
 

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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