Technicals | Apr 28 2020
This story features BREVILLE GROUP LIMITED. For more info SHARE ANALYSIS: BRG
The newsflow continues to improve, and with it the market. It seems like an age away when markets were panicking and the index was seeing massive moves each day. As we have touched on before, the odds of retesting those March lows are diminishing and investorsneed to be positioning their portfolios here to take advantage of quality stocks which are still at attractive levels.
In today's report we have an updated updated chart on Breville Group ((BRG)).
The large falls across February – March saw BRG head back towards the lows at the start of 2019, which is where it commenced an impressive rally from about $10 to $26. The last few weeks has seen it bouncevery strongly from that level and it has already recovered nearly half of its losses. In terms of the short-term uptrend that started last month, BRG has held onto its previous low near $16. This implies that this shorter-term uptrend is still in place and BRG should continue to head higher for the time being. We expect some resistance to come in near $20.
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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
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: BRG - BREVILLE GROUP LIMITED