Buyers under pressure as sellers hit out with volume

Potential Sell Entry Alert to Watch GWA

Time Frame : Daily

Sector : Capital Goods/Consumer Cyclical

Key Stats : $894.78 Million Market Cap, VWAP 3.364, ASX Ranking 258, 4 Week Av Turnover $3,717,910, Current Turnover (Intraday as at time of alert) $1,508,162, PE 8.7, Div Yield 5.46%.

Company Overview : GWA Group Limited (GWA) is an Australian supplier of building fixtures and fittings to households and commercial premises. GWA has sales and distribution facilities located across Australia and has branch offices in New Zealand. GWA currently operates through the business division Bathrooms & Kitchens.

Broker Consensus : HOLD

GWA – GWA Group Limited

GWA has been under pressure over the previous few months as sellers hit into minor rallies. We see the potential for this trend to continue especially if traders exit due to the global environment and hide in cash. The recent spike to 3.47 was mean with selling pressure on volume so we will be watching for a minor lower high and some selling conviction for a potential sell entry setup. Watching for now.

Stock Code : GWA – GWA Group Limited

Company Website : www.gwagroup.com.au

Current Price : 3.38

Status : On watch for potential lower high and push below 3.10