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Potential Buy Entry Alert to Watch ELD
Time Frame : Daily
Sector : Consumer Defensive
Key Stats : $1.28 Billion Market Cap, VWAP 8.38, ASX Ranking 186, 4 Week Av Turnover $11,307,168, PE 14.4, Div Yield 2.19%.
Company Overview : Elders Limited (ELD) is an Australian agribusiness company provides livestock, real estate, feed and processing, wool agency services, financial planning, grain marketing services to rural and regional customers primarily in Australia and New Zealand. It also operates red meat supply chains in Indonesia and China. ELD operates through Network, Feed and Processing, and Other segments.
Broker Consensus : BUY
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ELD – Elders Limited
ELD is hold up well as buyers start to build a base to work a rally from. We are now watching for some further consolidation around 8.20 (as buyers accumulate) and for price to hold a higher low above 7.93 for the buy entry setup. Of course this could all change if the ASX rolls over again and bears take control but for now buying interest is playing out.
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Stock Code : ELD – Elders Limited
Company Website : www.elders.com.au
Current Price : 8.40
Status : On watch for potential higher low and contraction then push up through 8.90
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