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

I was asked the question, earlier this week, whether FNArena could develop a similar signal as Icarus, but for stocks that were about to take-off, instead of gravity starting to pull. My response was there is a flipside to everything and often it's only a matter of how to look at things. For example, both Monadelphous ((MND)) and Iress ((IRE)) had featured regularly on the Icarus Signal until strong selling pressure in June pushed both stocks well below consensus price targets. Since both have a long history for trying to push limits and boundaries, and both remain popular stocks, is it thus fair to assume that if overall market sentiment is improving, both will revisit their consensus targets in due course?

The answer, as they say, lies in the eating of the pudding and both Monadelphous and Iress have not returned on the radar of the Icarus Signal as yet, but that might only be one or two days of gains away.

In the meantime, yesterday's strong market gains have pushed no less than 10 stocks on the list for approaching price target, while the list for stocks above target saw two newcomers. The one that stands out is Melbourne IT ((MLB)) which has been a regular yoyo in between these Icarus lists and yesterday the shares received a firm rejection above target. Melbourne IT shares were slightly above target on Wednesday. They closed more than 3% below target yesterday, in an upwards moving market. Just goes to show how volatile some of the smaller stocks can become once they are faced with valuation headwinds.

There are now 16 stocks trading near price target and 19 stocks above. Investors interested in some broader observations should read yesterday's daily update.

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

Stocks <3% Below Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 ANN $ 14.16 $ 14.21 0.38% 2 BWP $ 1.84 $ 1.88 2.34% 3 CDI $ 0.55 $ 0.56 2.36% 4 CPB $ 45.76 $ 46.04 0.60% 5 CQR $ 3.21 $ 3.27 1.99% 6 IVC $ 7.69 $ 7.84 1.98% 7 PXS $ 0.84 $ 0.86 2.74% 8 SKI $ 1.29 $ 1.32 2.25% 9 SPN $ 0.94 $ 0.96 2.23% 10 SPT $ 2.33 $ 2.40 2.79%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 ABP $ 2.32 $ 2.29 – 1.38% 2 TAH $ 3.29 $ 3.28 – 0.46%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 PMP $ 0.62 $ 0.97 56.94% 2 PSH $ 0.16 $ 0.26 67.74%

To see the full Icarus Signal, please go to this link

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