Sellers pressuring price lower so cancelling the buy entry alert

AWC is heading lower so cancelling the Buy Entry Alert at 2.51. We will re-assess the price action and watch for evidence that buyers are taking control.

Alert History

Original Alert 19/06/19

New Buy Entry Alert AWC

Time Frame : Daily

Sector : Materials/Basic Materials

Key Stats : $6.94 Billion Market Cap, VWAP 2.41, ASX Ranking 67, 4 Week Av Turnover $26,068,161, Current Turnover (at time of alert) $7,518,811.

Company Overview : Alumina Limited (AWC) is an Australia-based company. AWC is engaged in investing in bauxite mining, alumina refining and selected aluminum smelting operations, through its 40% ownership of Alcoa World Alumina and Chemicals (AWAC). AWAC also has a 55% interest in the Portland smelter in Victoria, Australia.

Broker Consensus : BUY

AWC – Alumina Limited

AWC is on the move higher as things look up for commodities and trade relations between the US and China. We are now happy to buy on a push up through 2.51 and will hold the stop loss at 2.33. If price pushes lower through 2.33 prior to entry, we will cancel the alert and re-assess the action.

Stock Code : AWC – Alumina Limited

Company Website : www.aluminalimited.com

Current Price : 2.48

New Potential Buy Entry (Trigger Level) : 2.51

Potential Sell Exit Zone (Stop Loss) : 2.33

Status : On watch for buy entry trigger