Sellers start to take control as buyers clear out

Potential Sell Entry Alert to Watch MND

Time Frame : Daily

Sector : Capital Goods/Industrials

Key Stats : $1.78 Billion Market Cap, VWAP 18.652, ASX Ranking 178, 4 Week Av Turnover $6,935,901, Current Turnover (Intraday as at time of alert) $776,589, PE 27.5. Div Yield 3.02%.

Company Overview : Monadelphous Group Limited (MND) is an S&P/ASX 200 company that provides construction, maintenance and industrial services to the resources, energy and infrastructure sectors.

Broker Consensus : HOLD

MND – Monadelphous Group Limited

MND is looking heavy as price comes under selling pressure up at resistance around 19.95. We see the string possibility that a lower high is building at 19.25 that will drag in some further sellers for a move down through 18.00. Watching now for a push through 18.50 and then a lower high to build for the entry setup.

Stock Code : MND – Monadelphous Group Limited

Company Website : www.monadelphous.com.au

Current Price : 18.64

Status : On watch for potential lower high and push down through 18.00