Early signs building that buyers are starting to show some interest

Potential Buy Entry Alert to Watch SGM

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $2.01 Billion Market Cap, VWAP 10.269, ASX Ranking 164, 4 Week Av Turnover $7,563,906, Current Turnover (Intraday as at time of alert) $2,940,922, PE 10.6, Div Yield 5.35%.

Company Overview : SIMS Metal Management Limited (SGM) is the global metals and electronics recycling company, involved in the buying, processing and selling of ferrous and non-ferrous recycled metals and providing solutions for the disposal of post-consumer electronic products, including IT assets recycled for commercial customers. The company operates in North America, Australasia, and Europe.

Broker Consensus : HOLD

SGM – Sims Metal Management Limted

SGM is down on lows around 10.00 off highs at 18.00 but we may be seeing early signs of buyers stepping into the action. It is very early stages still but price is rejecting levels around 9.00 so we are now looking for volume to pick up to show that the interest from the buyers is increasing. Watching now for a minor higher low to build around 9.50. 9.80 for a potential entry setup.

Stock Code : SGM – Sims Metal Management Limted

Company Website : www.simsmm.com

Current Price : 10.29

Status : On watch for potential higher low and push up through 10.50