Technical Analysis: 17 Feb 2014

About the author:

Violeta Todorova
Author name:
By Violeta Todorova
Job title:
Senior Technical Analyst
Date posted:
17 February 2014, 10:22 AM

Aurora Oil & Gas (AUT)

In our last update on the 20th of January 2014 we recommended buying the stock at $2.81 and our initial upside target of $3.00 has been greatly exceeded. The stock rallied to $4.14 and we note a loss of momentum over the past week.

Therefore, we recommend active clients take profits and buy with the proceeds Senex Energy, Sundance Energy or Maverick Drilling & Exploratione. Switch from AUT into SXY, SEA or MAD.

Dexus Property Group (DXS)

In our last update on the 4th of February 2014 we recommended buying the stock at $1.00 and our initial upside target of $1.05 has now been reached. Friday’s price action decisively broke above resistance of $1.06, suggesting that higher prices are likely to unfold in the near term.

The next potential upside price target based on the breakout is $1.10. Heading higher.

G8 Education (GEM)

GEM has been trading in an up trend over the past year, which remains technically intact. Recent price action broke above key resistance of $3.46, confirming a large rectangle pattern. The pattern has bullish implications and suggests that higher prices are likely to unfold in the months ahead. The potential upside price target based on the breakout is $4.11.

Any weakness in the short term would provide a good buying opportunity. Double blessed: buy on weakness.

Transpacific Industries (TPI)

The up trend from the June 2013 low has lost momentum over the past three months and the price has been trading sideways, fluctuating between $1.05 and $1.19. Friday’s price action broke on an intra-day basis above resistance of $1.19 showing that momentum is ramping up. A break on a closing basis is likely and will confirm the rectangle pattern.

The potential medium term upside price target is in the range between $1.30 and $1.35. Heading higher.

More information

If you are interested in finding out more, please contact your nearest Morgans office.

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

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