Sellers continue to pressure price lower to trigger the entry

Price continues to push lower and has triggered the sell entry level at 8.88 so the alert is now active. The Stop Loss is held at 9.39 and yesterdays close was 8.91.

Alert History

Original Alert 12/08/19

New Sell Entry Alert SM1

Time Frame : Daily/Weekly

Sector : Food, Beverage and Tobacco

Key Stats : $1.72 Billion Market Cap, VWAP 9.048, ASX Ranking 176, 4 Week Av Turnover $736,960, Current Turnover (Intraday as at time of alert) $274,221, PE 25.7.

Company Overview : Synlait Milk Limited (SM1) is a dairy processing company based in Canterbury, New Zealand. The company also sales its products in China, Rest of Asia, Middle east and Africa and Rest of world. The company manufactures and sales a range of milk powder and milk powder related products including infant and adult nutritional formulations, functional food ingredients, and specialised products.

Broker Consensus : Not covered by a major broker

SM1 – Synlait Milk Limited

SM1 continues to struggle as potential new buyers are happy to sit on the sidelines and watch the action play out. This is not good for current holders who are watching price head lower longer term and waiting for fresh buying pressure to support price. We are now happy to sell on a push down through 8.88 and will hold the stop loss at 9.39 for now. If price pushes highers through 9.39 prior to entry, then cancel the alert and re-assess the action.

Stock Code : SM1 – Synlait Milk Limited

Company Website : www.synlait.com

Current Price : 9.20

New Potential Sell Entry (Trigger Level) : 8.88

Potential Buy Exit Zone (Stop Loss) : 9.39

Status : On watch for Sell Entry trigger

Previous Alert 7/08/19

Potential Sell Entry Alert to Watch SM1

Time Frame : Daily/Weekly

Sector : Food, Beverage and Tobacco

Key Stats : $1.72 Billion Market Cap, VWAP 9.048, ASX Ranking 176, 4 Week Av Turnover $736,960, Current Turnover (Intraday as at time of alert) $274,221, PE 25.7.

Company Overview : Synlait Milk Limited (SM1) is a dairy processing company based in Canterbury, New Zealand. The company also sales its products in China, Rest of Asia, Middle east and Africa and Rest of world. The company manufactures and sales a range of milk powder and milk powder related products including infant and adult nutritional formulations, functional food ingredients, and specialised products.

Broker Consensus : Not covered by a major broker

SM1 – Synlait Milk Limited

SM1 has been under pressure for a while and we expect to see further downside if bears have their way. The longer term charts are breaking down and a push down through the 8.50 zone will open up a move below 8.00. If markets continue to find pressure and uncertainty, we expect to see remaining holders give up and sell down their positions. Watching for a minor lower high to hold below 9.50 for the sell entry setup.

Stock Code : SM1 – Synlait Milk Limited

Company Website : www.synlait.com

Current Price : 9.04

Status : On watch for potential lower high and push below 8.00