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Limited Downside For Aristocrat

Technicals | Dec 12 2017

This story features ARISTOCRAT LEISURE LIMITED. For more info SHARE ANALYSIS: ALL

By Michael Gable 

In this week's report we take a look at Aristocrat Leisure ((ALL)), on the back of some share price weakness following a recent acquisition.

The uptrend in ALL has stalled for the time being but there is nothing negative about that. At the moment the shares are consolidating here. It appears to be in the form of an ascending triangle, or we could see the shares come back a bit further towards $20 to form a flat rectangle. Either way, we can only be negative on the chart if it falls through support near $20. A pullback towards $20 followed by a bounce would be ideal for an entry point. Otherwise a break to the upside (closing above $24 for the week) could also be followed.

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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CHARTS

ALL

For more info SHARE ANALYSIS: ALL - ARISTOCRAT LEISURE LIMITED