Technicals | Feb 19 2019
By Michael Gable
This week we take a fundamental look at Cleanaway Waste Management ((CWY)) on the back of its result.
CWY has been in an uptrend since the end of 2015. After peaking in August 2018, it then corrected back against the uptrend. Earlier this year, we saw it break that shorter-term consolidation, creating a buy signal on the weekly MACD (circled). CWY is now back into its longer-term uptrend. Over the short term, we may see some weakness back towards the low $2's but we should generally see the share price head higher over the next few months or so. Any weakness is therefore a buying opportunity.
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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
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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