A milk company on the rise with buyers looking to new highs

Potential Buy Alert SM1

 

SM1 – Synlait Milk Limited

SM1 recently spiked into new highs to clear the way for a new leg up. The company provides nutritional milk products for all ages and has recently held some major support around the 5.80/6.00 zone. We now expect to see some further miner contraction lower to build a higher low potentially around 6.60. If we get the price action we like, then we expect to see buyers start the run to new highs so will look to jump on board.

 

Stock Code : SM1 – Synlait Milk Limited

Company Website : www.synlait.com

Current Price : 6.98

Status : On watch for a buy entry setup