Technical Analysis: 10 Jan 2014

About the author:

Violeta Todorova
Author name:
By Violeta Todorova
Job title:
Senior Technical Analyst
Date posted:
10 January 2014, 10:42 AM

Australian Agricultural Company (AAC)

AAC has been trading in a consistent up trend since October 2013 and our initial upside price target of $1.20 has now been reached.

Momentum indicators remain constructive and firmly in the bull range and we believe that higher price levels are achievable. Therefore, we lift our price target to $1.30. Heading higher.

Blackmores (BKL)

In our last update on the 4th of December 2013 we recommended buying the stock at $20.81 and our first upside price target of $22.00 has now been reached. Thursday’s price action decisively broke above resistance of $22.24, suggesting that higher prices are likely to unfold in the month(s) ahead.

The potential upside price target based on the breakout is $24.65, however levels towards $25.30 are achievable. Bullish breakout.

DUET Group (DUE)

The decline from October 2013 high has lost momentum over the past few weeks and the price appears to have been in the process of building a small base. Bullish divergence between the price and the RSI indicator has formed throughout December 2013 and January 2014, suggesting that the price is likely to bounce in the near term. 

The first potential upside price target is $2.09, however levels towards $2.15 are achievable over time. Accumulate.

Kathmandu Holdings (KMD)

KMD has been trading in an up trend over the past year, which remains technically intact. The up trend has lost momentum over the past two months and the price has been trading sideways, fluctuating between $2.84 and $3.49. The latest pull back retraced close to its support, where initial buying interest is likely to arise.

Momentum indicators have turned positive from oversold levels, suggesting that the price is likely to bounce in the short term. The potential upside price target is $3.50. Accumulate.

TPG Telecom (TPM)

TPM has been trading in an up trend over the past year, which remains technically intact. The stock experienced a strong run over the past month posting a record high of $5.57.

Momentum indicators have reached strongly overbought territory, suggesting that the price is likely to pull back in the short term. The potential downside price target is towards $4.80. ST weakness.

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.

  • Print this page
  • Copy Link