Sellers starting to jump in aiming to push price lower

Potential Sell Entry Alert ALX

 

Time Frame : Daily/Weekly

Sector : Transportation/Industrials

Key Stats : $4.67 Billion Market Cap, VWAP 6.777, ASX Ranking 88, 4 Week Av Turnover $14,326,578, Turnover Today (At time of writing) $3,940,261, PE 98.3, Div Yield 3.51%.

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 coming under pressure and with current market conditions, price could turn south fast. Price recently broke down through a key support zone at 6.60 and the following rally towards 7.00 is running out of steam. We are now on watch for minor lower highs for confirmation that sellers are piling in to build our sell entry setup (refer to chart).

 

Stock Code : ALX – Atlas Arteria

Company Website : www.atlasarteria.com

Current Price : 6.76

Status : On watch for a sell entry setup