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TechnologyOne One To Watch

Technicals | Mar 13 2018

This story features TECHNOLOGY ONE LIMITED. For more info SHARE ANALYSIS: TNE

By Michael Gable 

There seem to be a number of interesting opportunities for this week. Firstly, BHP has fallen right into our target price and therefore looks like a buying opportunity. There are also a number of trading opportunities in our charting section. Today we look at TechnologyOne ((TNE)).

Since the 2016 peak, TNE has been consolidating against the long-term uptrend, forming a large flag. It has recently bounced off the lower part of the range, with last week's price action being particularly bullish (circled). The shares are in the middle of the range now, hence the neutral stance. However, last week's move is perhaps an early sign that the stock may be ready to make a move out of the range. TNE is therefore one for the watchlist to see if something more positive starts to develop over the next few weeks or so.

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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For more info SHARE ANALYSIS: TNE - TECHNOLOGY ONE LIMITED