Transurban Testing High

This story features TRANSURBAN GROUP LIMITED. For more info SHARE ANALYSIS: TCL

The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

By Michael Gable 

It looks to be a quiet week domestically with inflation data on Wednesday being the main highlight. Beyond that we are looking forward to reporting season which kicks off in earnest in two weeks time. A star performer in recent years has been Transurban Group ((TCL)). It always looks expensive, but the share price just keeps climbing. We have a detailed look at it this week.
 

TCL is another one of those stocks that just keeps on trending higher and higher as investors' demand for yield shows no sign of slowing yet. The stock triggered a sell signal on the RSI when it peaked in May, and therefore fell by nearly a dollar. It is now coming back up to retest that level. TCL will need to close above the May high and hold those levels. If we see a sharp sell-off over coming days, then we could potentially see TCL come back to the $11 .00- $11.50 region.

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Michael assists investors to achieve their goals by providing advice ranging from short term trading to longer term portfolio management, deals in all ASX listed securities and specialises in covered call writing to help long term investors protect their share portfolios and generate additional income.

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities Pty Ltd is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

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