Buyers building the platform for a run to highs

Potential Buy Entry Alert to Watch STO

Time Frame : Daily/Weekly

Sector : Energy

Key Stats : $15.06 Billion Market Cap, VWAP 7.211, ASX Ranking 29, 4 Week Av Turnover $34,840,373, Current Turnover (Intraday as at time of alert) $10,807,327, PE 16.9, Div Yield 1.85%.

Company Overview : Santos Limited (STO) operates in the exploration, development, production, transportation and marketing of hydrocarbons. Santos produces natural gas to Australian, Indonesian and other Asian markets, and develops oil and liquids businesses in Australia, Indonesia and Vietnam. Santos also focuses on transformational liquefied natural gas (LNG) strategy and has interests in four LNG projects in Australia.

Broker Consensus : BUY

STO – Santos Limited

STO is looking good on the long term charts as price has been consolidating between 7.40 and 6.55 for the best part of the year. Price has some work to do to break up and out of this consolidation and convince buyers that a new run up to potentially 11.50 is on the cards. Oil is still range bound but find continued supply constraints capping the buying. Watching to see how the action plays out.

Stock Code : STO – Santos Limited

Company Website : www.santos.com

Current Price : 7.215

Status : On watch for potential higher low and push up through 7.50