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Potential Buy Entry Alert to Watch BGA
Time Frame : Daily/Weekly
Sector : Consumer Defensive/ Food and Beverage
Key Stats : $1.03 Billion Market Cap, VWAP 4.90, ASX Ranking 222, 4 Week Av Turnover $7,238,050, Current Turnover Intraday $115,657,828 (2:36pm AEST), PE 67.1, Div Yield 2.17%.
Company Overview : Bega Cheese Limited (BGA) is engaged in the processing, manufacturing and distribution of dairy and associated products to both Australian and international markets. Its products include natural cheese, processed cheese, powders and butter, packages cheese, cream cheese, powders and nutritionals. BGA operates under the co-operative structure and has five production facilities. Bega exports over 60 million units of cheese per year to approximately 40 different countries.
Broker Consensus : BUY
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BGA – Bega Cheese Limited
BGA is holding up well under fire as price was already down on weekly support. We expect this stock to drag in some buying interest as bulls search for some bargains. The 3.90 area has held up very well and we expect this will be a solid base for a run higher towards the 8.15 area. Watching now for a pullback to hold a higher low that will setup the buy entry on a daily chart.
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Stock Code : BGA – Bega Cheese Limited
Company Website : www.begacheese.com.au
Current Price : 4.91
Status : On watch for potential higher low and push up through 5.41
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