Technicals | Dec 15 2020
This story features TEMPLE & WEBSTER GROUP. For more info SHARE ANALYSIS: TPW
By Michael Gable
In the last several weeks, although the Australian share market has headed higher, as we've anticipated, however we haven't seen all sectors fire up at the same time. In the last few weeks, we have seen the resource stocks do very well, and that has been at the expense of some other sectors such as technology, retail, healthcare, etc. Some select names in technology and retail however appear to be ready to move again now so this week we have a chart on Temple & Webster ((TPW)).
The range in TPW appears to have tightened up and it has formed a descending wedge. We have also seen some bullish divergence on the RSI. It looks like it is trying to push out of this range and this implies a potential rally from here. Current levels are therefore a buying opportunity for traders looking to place a tight stop.
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: TPW - TEMPLE & WEBSTER GROUP