Heavy price action may lead to further pressure from sellers

Potential Sell Entry Alert to Watch SUN

Time Frame : Daily/Weekly

Sector : Insurance/Financial Services

Key Stats : $17.23 Billion Market Cap, VWAP 13.319, ASX Ranking 21, 4 Week Av Turnover $33,471,958, Current Turnover (Intraday as at time of alert) $17,920,500, PE 20, Div Yield 4.97%.

Company Overview : Suncorp Group Limited (SUN) is a Queensland-based financial services conglomerate offering retail and business banking, general insurance, life insurance, superannuation and investment products in Australia and New Zealand. SUN has following five core businesses: Personal Insurance, Commercial Insurance, Vero New Zealand, Suncorp Bank and Suncorp Life.

Broker Consensus : BUY/HOLD

SUN – Suncorp Group Limited

SUN is coming under pressure as buyers struggle to lift price up through 14.00 as sellers cap the run up. We now see the potential for a move lower to 12.00 if price breaks below 13.00 on increased volume. For a sell entry, we will watch the lower timeframe daily chart for a minor lower high (refer to pic).

Stock Code : SUN – Suncorp Group Limited

Company Website : www.suncorpgroup.com.au

Current Price : 13.34

Status : On watch for potential lower high and move through 13.00