Buyers are heading for the exit as price pushes lower

Potential Sell Entry Alert MTS

 

Time Frame : Daily/Weekly

Sector : Food and Staples Retailing

Key Stats : $2.55 Billion Market Cap, VWAP 2.747, ASX Ranking 137, 4 Week Av Turnover $11,002,369, Current Turnover (Intraday as at time of alert) $2,586,882, Div Yield 4.64%.

Company Overview : Metcash Limited (MTS) is a wholesale distribution and marketing company specializing in grocery, fresh food, liquor, hardware and automotive parts & accessories. MTS operates in Australia and a smaller liquor business in New Zealand.

Broker Consensus : HOLD/SELL

 

MTS – Metcash Limited

MTS is coming under pressure from longer term and shorter term traders. A major lower high held at 3.10 which is bringing in more sellers to the action so we see a potential fora longer term move down to 2.00 on the cards. Watching the daily charts now for a sell entry setup.

 

Stock Code : MTS – Metcash Limited

Company Website : www.metcash.com

Current Price : 2.77

Status : On watch for Sell entry setup