A blue chip making its way higher as buyers gun for new highs

New Buy Entry Alert TCL

Time Frame : Daily

Sector : Transportation

Key Stats : $26.52 Billion Market Cap, VWAP 12.106, ASX Ranking 13, PE Ratio 52.9, Div Yield 4.66%

Company Overview : Transurban Group (TCL) manages and develops urban toll road networks in Australia and the United States of America. Company engage in the development, operation, maintenance and financing of toll road networks as well as management of the associated customer and client relationships. Company have 13 roadsin Australian portfolio and in US company have 2 roads in the state of Virginia, both in Washington DC area.

 

TCL – Transurban Group

TCL is on the move up off strong support as buyers start the push higher. We are happy to buy at 12.20 (current market price) and hold the stop loss at 11.50. From here we expect to see buyers out in force to push price up initially to 13.00 and then potentially beyond.

 

Stock Code : TCL – Transurban Group

Company Website : www.transurban.com.au

Current Price : 12.20

New Buy Entry (Trigger Level) : 12.20 (Current Price)

New Sell Exit Zone (Stop Loss) : 11.50

Status : Buy At current market price