article 3 months old

Keep An Eye On Altium

Technicals | Apr 26 2023

This story features ALTIUM. For more info SHARE ANALYSIS: ALU

By Michael Gable 

Share markets were weaker overnight, but it is telling that company reports are beating expectations. Expectations were that earnings would fall off a cliff and the economy would fall into recession.

When everyone is saying the same thing, you need to be open to the consensus getting it wrong. It will be interesting to see how markets hold up in the next few days.

Today's report contains a chart on Altium ((ALU)).

ALU is a stock worth keeping an eye on as we have noticed that the trading range is starting to tighten up and this can be the precursor to a strong move.

We don't know which way it will break yet, but an upside break would be the buy signal, and a downside break would be a sell signal.

However, because the preceding trend was to the upside, it is more likely that we see an upside break and therefore a buying opportunity.

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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CHARTS

ALU

For more info SHARE ANALYSIS: ALU - ALTIUM