Sellers are putting the squeeze on the buyers as price looks shaky

Potential Sell Entry Alert ALX

 

Time Frame : Daily/Weekly

Sector : Transportation/Industrials

Key Stats : $4.54 Billion Market Cap, VWAP 6.623, ASX Ranking 88, 4 Week Av Turnover $11,603,101, Current Turnover (Intraday as at time of alert) $17,491,727, PE Ratio 95.5, Div Yield 3.61%.

Company Overview : Atlas Arteria (ALX, formerly Macquarie Atlas Roads) comprises Atlas Arteria Limited (ATLAX) and Atlas Arteria International Limited (ATLIX), an exempted mutual fund company incorporated in Bermuda. Macquarie Fund Advisers Pty Limited is the manager/adviser of ATLAX and ATLIX. MFA is a wholly owned subsidiary of Macquarie Group Limited. ALX seeks to invest in global infrastructure assets.

Broker Consensus : NONE

 

ALX – Atlas Arteria

ALX is starting to show some cracks appearing as sellers jump in to the action to squeeze the late buyers. We are now on guard for a potential major correction in price as longer term buyers decide to close the gains in the current market climate. Watching now for a lower high for the sell entry setup (refer to chart).

 

Stock Code : ALX – Atlas Arteria

Company Website : www.atlasarteria.com

Current Price : 6.625

Status : On watch for sell entry setup