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Potential Buy Entry Alert to Watch NEC
Time Frame : Daily
Sector : Media and Entertainment
Key Stats : $1.96 Billion Market Cap, VWAP 1.185, ASX Ranking 140, 4 Week Av Turnover $9,542,509, Current Turnover Intraday $4,442,743 (as at 11:46am AEST), PE 26, Div Yield 8.70%.
Company Overview : Nine Entertainment Co. Holdings Limited (NEC) is an Australian and media entertainment company with investments spanning television, video on demand, print, digital, and radio. Nine’s assets include the Nine Network, major mastheads such as The Sydney Morning Herald, The Age and Australian Financial Review, digital properties such as nine.com.au, 9Honey, Pedestrian.TV, and CarAdvice, subscription video platform Stan, talk-back radio and majority investments in Domain and Future Women.
Broker Consensus : STRONG BUY
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NEC – Nine Entertainment Co Holdings Limited
NEC is consolidating nicely after the recent capitulation down to the 0.80 level. The fact that price is holding above the 1.10 zone is a good sign that bulls are building for a second leg higher considering that sellers are stepping in (pressure down on Stochastic) and volume is decreasing. We are now watching for further contraction and minor higher levels to hold for the run up through 1.25.
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Stock Code : NEC – Nine Entertainment Co Holdings Limited
Company Website : www.nineentertainmentco.com.au
Current Price : 1.19
Status : On watch for potential higher low and push up through 1.30
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