Goodman Group Set To Break Higher

This story features GOODMAN GROUP. For more info SHARE ANALYSIS: GMG

By Michael Gable

The Australian market continues to look a bit soft, but the fact that any selling is not broad-based is encouraging. Funds rotate from one stock to another, and investors need a bit more "water under the bridge" to get going again. This is why share sell-downs often see a small bounce followed by a retest of the lows. And when a month or so has passed and the market gets over it, then we will see a decent bounce higher again. Investors just need to be patient during these times.

We believe that growth stocks will do well again so you just need to use this time to get positioned into some quality companies and then wait for the tide to come back in. We have an updated chart on Goodman Group ((GMG)) which is now breaking higher again.

We last looked at GMG on 6 August and noted the breakout from a consolidation. We noted at the time that we "expect GMG to continue to uptrend and head to new highs well over $10." Since peaking near $10.80, it then eased back into a flag formation. Once again it has broken out of this consolidation and we therefore expect GMG to once again resume the uptrend and head to near highs.

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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