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Potential Buy Entry Alert to Watch IFN
Time Frame : Daily/Weekly
Sector : Utilities
Key Stats : $615.78 Million Market Cap, VWAP 0.645, ASX Ranking 336, 4 Week Av Turnover $441,187, Current Turnover (Intraday as at time of alert) $116,484, PE 14.9, Div Yield 1.56%.
Company Overview : Infigen Energy (IFN) is a developer, owner and operator of renewable energy generation assets in Australia. Infigen has an operating capacity of 557 megawatts (MW) comprising six wind farms, the 89 MW Alinta wind farm in Western Australia (WA), the three Lake Bonney wind farms in South Australia (SA) with capacities of 81 MW, 159 MW and 39 MW respectively, and the 141 MW Capital and 48 MW Woodlawn wind farms in New South Wales (NSW).
Broker Consensus : Not covered by a major broker
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IFN – Infigen Energy
IFN recently pushed off the lows around 0.42 and has spent the last few months consolidating the gains. We see that the action still has some work to do and expect a minor squeeze of buyers to reset for a run higher. We are watching for volume to pick up and a higher low to build for the entry. Expect this to pick up steam for a longer term move if all goes to plan.
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Stock Code : IFN – Infigen Energy
Company Website : www.infigenenergy.com
Current Price : 0.64
Status : On watch for potential higher low and push up through 0.70
