TRADESETUP

November 5, 2018

Sellers start to apply the pressure looking for a move lower

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New Sell Entry Alert TCL

 

Time Frame : Daily/Weekly

Sector : Transportation/Industrials

Key Stats : $30.08 Billion Market Cap, VWAP 11.29, ASX Ranking 13, 4 Week Av Turnover $59,731,880, Current Turnover (Intraday as at time of alert) $5,029,674, PE 49.6, Div Yield 4.97%.

Company Overview : Transurban Group (TCL) manages and develops urban toll road networks in Australia and the United States of America. Company engage in the development, operation, maintenance and financing of toll road networks as well as management of the associated customer and client relationships. Company have 13 roadsin Australian portfolio and in US company have 2 roads in the state of Virginia, both in Washington DC area.

Broker Consensus : BUY

 

TCL – Transurban Group

TCL is under pressure both on the daily charts and longer term weekly as sellers pile into the action. We see the latest run up to 11.40 zone took a lot out of the buyers so we expect this to be a lower high and sellers to target down to the 9.80 zone. Sell entry at 10.98 and stop loss up at 11.45. Of price trades 11.45 prior to entry, then we are happy to cancel the alert and re-assess the action.

 

Stock Code : TCL – Transurban Group

Company Website : www.transurban.com

Current Price : 11.20

New Sell Entry Level (Trigger Level) : 10.98

Potential Buy Exit Zone (Stop Loss) : 11.45

Status : On watch for a Sell entry trigger

 

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