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Potential Buy Entry Alert to Watch AWC
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Key Stats : $6.57 Billion Market Cap, VWAP 2.29, ASX Ranking 75, 4 Week Av Turnover $17,296,204, Current Turnover Intraday $ (am AEDT), PE 8.0, Div Yield 11.46%.
Company Overview : Alumina Limited (AWC) is an Australia-based company. AWC is engaged in investing in bauxite mining, alumina refining and selected aluminum smelting operations, through its 40% ownership of Alcoa World Alumina and Chemicals (AWAC). AWAC also has a 55% interest in the Portland smelter in Victoria, Australia.
Broker Consensus : Not covered by a major broker
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AWC – Alumina Limited
AWC is in a good position to drag in some buyers to push price up through the 2.50 zone and start a new longer term trend higher. The key levels are 2.10 and then 2.20. Price will need to hold up above 2.20 to give the buyers confidence to build longer term positions so we are now watching the action for a higher low to build the entry setup (as highlighted on the chart below). The PE and Div yield may start to look very attractive to longer term investors.
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Stock Code : AWC – Alumina Limited
Company Website : www.aluminalimited.com
Current Price : 2.305
Status : On watch for potential higher low and push up through 2.50
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