Icarus Signal New Entries For Today

This story features MONADELPHOUS GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: MND

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

In yesterday's Icarus update I forgot to mention there has been a noticeable increase in reported short positions for Monadelphous ((MND)) shares over the month past, an observation that hasn't escaped the attention of analysts at RBS either. These analysts suspect a direct connection with Monadelphous about to receive a status upgrade to large cap from small cap previously and this, as reported yesterday, is seeing selling pressure emerge from funds managers specialised in small caps only. (I know it's ridiculous these fundies need to say goodbye to a well-performing investment in their portfolio but only for the fact that S&P has decided Monadelphous now deserves to be included in the ASX Top100, but such is life inside the industry).

Investors should note RBS for one is anticipating continued weakness on the back of this selling. Investors should also note that once the share price starts moving in the opposite direction again, these short positions could potentially become a supporting force.

Just to cap off the subject of short positions, RBS reported yesterday Monadelphous is in similar position as the likes of Billabong ((BBG)), Myer ((MYR)), Fairfax Media ((FXJ)), OZ Minerals ((OZL)), Murchison Metals ((MMX)), Bank of Queensland ((BOQ)), Cochlear ((COH)), Transpacific Industries ((TPI)), Lynas ((LYC)) and Goodman Fielder ((GFF)).

As expected, renewed selling pressure for the Australian share market overall is having significant impact on the lists at FNArena's Icarus Signal. The group of stocks trading below but close to target has been reduced to 20, with more losses to follow after today's session. The list of stocks trading above target has now fallen to 25. SP Ausnet ((SPN)), Ramsay Healthcare ((RHC)), Rex Minerals ((RXM)) and Eastern Star Gas ((ESG)) all made the switch from the second list onto the first one.

Aquarius Platinum ((AQP)) and Panoramic Resources ((PAN)) have joined the Bottom 50.

Investors should consider the information and data are provided for research purposes only.

Stocks <3% Below Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 SPN $ 0.96 $ 0.96 0.63% 2 ESG $ 0.88 $ 0.88 0.91% 3 RHC $ 18.53 $ 18.74 1.15% 4 RXM $ 1.57 $ 1.60 1.91%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 PBD $ 0.05 $ 0.05 – 1.96%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 AQP $ 2.72 $ 4.42 62.32% 2 PAN $ 1.36 $ 2.19 61.62%

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