Buyers consolidating highs as they build for a new leg up

Potential Buy Entry Alert to Watch AST

Time Frame : Daily/Weekly

Sector : Utilities

Key Stats : $6.48 Billion Market Cap, VWAP 1.79, ASX Ranking 65, 4 Week Av Turnover $5,917,148, Current Turnover (Intraday as at time of alert) $620,317, PE 23.8, Div Yield 5.34%.

Company Overview : AusNet Services (AST, formerly SP AusNet) own and operate the Victorian electricity transmission network, one of five electricity distribution networks, and one of three gas distribution networks in Victoria. As well as the network businesses, commercial business – Mondo – provides a range of energy and infrastructure products and services to business, government, communities and households. These services include metering, asset intelligence and telecommunication solutions, as well as advanced energy management solutions enabling community energy hubs and solar mini grids.

Broker Consensus : HOLD


AST – AusNet Services Limited

AST recently ran up from the 1.52 zone and looks now to be consolidating around 1.80. We are now watching for a second push lower to clear out some late buyers and then for a higher low to build that should take price up through 1.95 highs. Price still has some work to do but the action looks promising.

Stock Code : AST – AusNet Services Limited

Company Website : www.ausnetservices.com.au

Current Price : 1.785

Status : On watch for potential higher low and move through 1.95