Price is building the support to lift to new highs

New Buy Entry Alert TNE

Time Frame : Daily/Weekly

Sector : Software and Services/Technology

Key Stats : $2.36 Billion Market Cap, VWAP 7.447, ASX Ranking 145, 4 Week Av Turnover $5,233,457, Current Turnover (Intraday as at time of alert) $275,174, PE 38.6, Div Yield 1.26%.

Company Overview : Technology One Limited (TNE) is a software provider and consultant, servicing government, local government, financial services, health & community services, education, and utilities and managed services markets. Products include financials, HR & Payroll, supply chain and business intelligence. TNE also offers custom software development services for large scale, purpose built applications. TNE has 14 offices throughout Australia, New Zealand, Asia, the South Pacific and the United Kingdom.

Broker Consensus : HOLD

TNE – Technology One

TNE has spent some time holding support above 7.00 as buyers step into the action. We are now watching for a higher low to hold for evidence that buyers are stepping up the pressure. We are happy to buy on a push up through 7.72 with a Stop Loss at 7.30. If price falls below 7.30 prior to entry, we will cancel the alert and re-assess the action.

Stock Code : TNE – Technology One

Company Website : www.technologyonecorp.com

Current Price : 3.98

New Potential Buy Entry (Trigger Level) : 7.72

Potential Sell Exit Zone (Stop Loss/Cancel Level) : 7.30

Status : On watch for Buy Entry Trigger