Icarus Signal New Entries For Today

This story features IRESS LIMITED. For more info SHARE ANALYSIS: IRE

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Always be careful what you wish for, especially in financial journalism. On Friday, I wrote the following sentence in the daily Icarus Signal update: "Now that Monadelphous is back on Icarus radar, the obvious question to ask is where is Iress ((IRE))?" Little did I know Iress shares were about to put in a strong rally on the day to ultimately finish above target, similar to Monadelphous.

Of course, with a weak start to the new week post a hugely disappointing labour market report in the US, both stocks, along many others, are reversing a big chunk of last week's progress booked. Maybe the take-away message from all this is that a return of risk appetite (even if it proves only temporary) in combination with low market volumes can generate quite some big surprises for those stocks ready to rally?

It's difficult to draw strong conclusions when the whole market moves up (Friday) and sells off the next day (today) but so far it seems both Iress and Monadelphous will be recording smaller losses than last week's gains. At least for today.

An easy observation, after Monday's up-up-up session, is that the list of stocks approaching target saw 12 new additions, while six stocks disappeared, of whom four to the list trading above target. The two that disappeared because of weakness where both yield stocks. Both ING Office Fund ((IOF)) and Commonwealth Property Office Fund ((CPA)) continue selling off in today's session and price charts in Stock Analysis confirm both have now put in typical Icarus Signals having suffered from firm rejection above consensus target.

As Iress joined the four that moved from near to above target, the group of stocks trading above target saw five newcomers. All four of them feature regularly in these daily updates; Monadelphous ((MND)), Treasury Wine Estates ((TWE)), Wotif.com ((WTF)) and Nomad Building Solutions ((NOD)).

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 $ 14.00 $ 14.27 1.94% 2 CPB $ 47.88 $ 47.91 0.06% 3 DWS $ 1.42 $ 1.46 2.82% 4 IMD $ 2.45 $ 2.49 1.76% 5 OKN $ 2.44 $ 2.46 0.74% 6 PTM $ 4.27 $ 4.36 1.99% 7 RIV $ 16.20 $ 16.25 0.31% 8 SPN $ 0.95 $ 0.96 1.16% 9 SPT $ 2.34 $ 2.40 2.35% 10 SUL $ 7.16 $ 7.36 2.77% 11 SVW $ 9.91 $ 9.93 0.16% 12 TAH $ 3.19 $ 3.28 2.66%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 IRE $ 9.41 $ 9.37 – 0.39% 2 MND $ 19.25 $ 19.07 – 0.92% 3 NOD $ 0.11 $ 0.10 – 9.09% 4 TWE $ 3.49 $ 3.47 – 0.66% 5 WTF $ 5.10 $ 5.02 – 1.49%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 BSL $ 1.35 $ 2.09 54.89% 2 REX $ 0.85 $ 1.25 47.06% 3 ROC $ 0.34 $ 0.49 47.16%

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