Upside For McMillan Shakespeare

This story features MCMILLAN SHAKESPEARE LIMITED. For more info SHARE ANALYSIS: MMS

By Michael Gable 

The focus for this week is on the Wednesday night meeting of the US Federal Reserve. Markets will be looking for clues as to when we could expect interest rates to head higher in the US. With markets looking momentarily expensive, the risk for the short term still appears to be to the downside.

Today we take a look at McMillan Shakespeare ((MMS)).
 

Our most recent charting comment on MMS was on 10 February, where we noted the recent break of the downtrend with expectations of levels as high as $14 being achievable. You will notice however that the share price has stalled here in the last few weeks. The market appears undecided about where it wants to send the share price. The $12 area is providing some resistance. However, it is encouraging that it hasn’t quickly gone back down towards the break-out zone near $11. Given some more time, there is a still a good probability that the share price pushes through this $12 region and trades up towards $14.
 

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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