04 Apr '12, 2am
AUSGROUP – what is brewing?
AUSGROUP – what is brewing? by brokercalls on April 4, 2012 Turning around? The chart seems to suggest so. Counter sprung to life today with volume hitting more than 30mil shares within the first trading hour, much more than usual. Recent high of 42.5ct will be the immediate resistance. If prices can close above 41ct by end of the week (by Thur since Fri is a public holiday), then next week could see prices being pushed up further to confirm the breakout (See weekly chart). Recent developements: – 2Q FY2012 earnings increased 67% y-o-y to AU$5.1 million, company expects steady improvement in both revenue and profit margins (Feb 2012) - AusGroup awarded contract for Karara Iron Ore Project in excess of AU$160 million (Mar 2012) brokercalls A full time investors/traders who specialised in Singapore equity market. Started trading part-time in 1999; turned full-time in 2003. M...