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Potential Buy Entry Alert to Watch BPT
Time Frame : Daily/Weekly
Sector : Energy
Key Stats : $4.69 Billion Market Cap, VWAP 2.078, ASX Ranking 92, 4 Week Av Turnover $17,132,530, Current Turnover (Intraday as at time of alert) $6,027,346, PE 12.2, Div Yield 0.97%.
Company Overview : Beach Energy Limited (BPT) is an oil and gas exploration and production company based in Adelaide, Australia. It has operated and non-operated, onshore and offshore, oil and gas production from five producing basins across Australia and New Zealand and is a key supplier to the Australian east coast gas market. Currently, the flagship operations are located in Cooper/Eromanga Basins and New Zealand.
Broker Consensus : BUY
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BPT – Beach Energy Limited
BPT found resistance up at 2.30 after the run up in markets at the start of the year. Buyers have since stepped up the pressure and supported the 1.80/1.90 zone. With Oil struggling and on lows, we see that there is potential for energy to pick up and out of the consolidation from Feb (refer to XEJ chart below). Of course there is still some work to do for price action to hold higher levels on a pullback to confirm that buyers are willing to step in at higher levels in anticipation of a push up through 2.20/2.25 highs.
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Stock Code : BPT – Beach Energy Limited
Company Website : www.beachenergy.com.au
Current Price : 2.08
Status : On watch for potential higher low and push up through 2.25
XEJ
