Selling pressure continues to mount so watching for a potential short

Potential Sell Entry Alert to Watch TCL

 

Time Frame : Daily/Weekly

Sector : Transportation/Industrials

Key Stats : $30.62 Billion Market Cap, VWAP 11.42, ASX Ranking 13, 4 Week Av Turnover $53,103,108, Current Turnover (Intraday as at time of alert) $6,800,387, PE 50.5, Div Yield 4.89%.

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 still looking weak as buyers are running out of fuel to continue price higher. We are now on watch for sellers to start to show their hand and build a lower high which we expect will drag in further selling pressure. Once we see the lower high, its all about the sell entry setup.

 

Stock Code : TCL – Transurban Group

Company Website : www.transurban.com

Current Price : 11.20

Status : On watch for a Sell Entry Setup