Technicals | Dec 19 2017
By Michael Gable
The Australian market has had a good few days and looks set to finish the year on a high. Resources are kicking higher, and M&A activity such as Westfield Corporation (which we have been very positive on), and Aconex have added to the buoyant mood on the market.
Today we look at Retail Food Group ((RFG)).
RFG has broken under some long-term support here and at the moment there doesn't appear to be a reason for it to stop sliding just yet, with the shares seeing heavy selling on most days during the last week. We can see some support back near $2. It may not get that far, but the stock will need to spend a lot of time building a base at the very least.
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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
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