Seek To Find Further Weakness

This story features SEEK LIMITED. For more info SHARE ANALYSIS: SEK

By Michael Gable 

We are getting close to the end of reporting season. We have expected the market to soften after an impressive rally, but at the moment it is still hanging in there. Perhaps entering a bit of a “news vacuum” post results would tip investors into a profit taking mood. Having reported last week, we take a closer look at Seek ((SEK)).
 

Up until the beginning of last week, SEK was looking positive, having broken to the upside of a year-long sideways channel. Unfortunately, it has fallen back into the range and is once again finding resistance under $18. We would therefore expect further weakness in SEK, possibly to levels closer to $15.
 

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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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