Buyers holding higher levels as they find some support from interest rate cuts

Potential Buy Entry Alert to Watch MGR

Time Frame : Daily/Weekly

Sector : Real Estate

Key Stats : $12.2 Billion Market Cap, VWAP 3.097, ASX Ranking 39, 4 Week Av Turnover $39,640,015, Current Turnover (Intraday as at time of alert) $14,101,750, PE 11.2, Div Yield 3.74%.

Company Overview : Mirvac Group (MGR) is involved in the Australian development and construction industry. It has a stapled security structure, comprising Mirvac Property Trust (MPT) and Mirvac Limited. They create, own and manage a diverse portfolio of assets across the office, retail, industrial and residential sectors.

Broker Consensus : SELL/HOLD

MGR – Mirvac Group

MGR is holding up nicely as buyers have some big support in the way of the RBA and interest rate cuts. The prospect of lower rates and easier money should keep the ball rolling. The longer term weekly chart is in a prime position to continue its move higher so we are now watching the daily for a higher low to work an entry from.

Stock Code : MGR – Mirvac Group

Company Website : www.mirvac.com

Current Price : 3.14

Status : On watch for potential higher low and push up through 3.40