A blue chip ready for a move higher as buyers build the foundations

Potential Buy Entry Alert to Watch COL

Time Frame : Daily

Sector : Food & Staples Retailing/Consumer Defensive

Key Stats : $15.69 Billion Market Cap, VWAP 11.878, ASX Ranking 23, 4 Week Av Turnover $36,487,297, Current Turnover (Intraday as at time of alert) $13,734,401.

Company Overview : Coles Group Limited (COL) is an Australian retailer, providing customers with everyday products including fresh food, groceries, household goods, liquor, fuel and financial services via its store network and online platforms. As at 30 June 2018, Coles processed more than 21 million customer transactions on average each week and operated 2,507 retail outlets nationally.

Broker Consensus : Not Covered by a major broker

COL – Coles Group

COL is one to keep the eye on as price may have found a base from which to build a move higher. We are now watching for a move up through the 12.00 level and then a higher low for confirmation that buyers are making their move.

Stock Code : COL – Coles Group

Company Website : www.colesgroup.com.au

Current Price : 11.88

Status : On watch for potential higher low and buy opportunity