Goodman Group: Quiet Achiever

This story features GOODMAN GROUP. For more info SHARE ANALYSIS: GMG

By Michael Gable 

The first day of spring. The last month of winter saw the worst share market performance since the GFC. The good thing about this time of year is we have had plenty of companies report results in the last few weeks. So the question of what to buy becomes somewhat easier because there is plenty of up to date company information available to us. As mentioned in last week’s report when the market was at its lows, we expected it to bounce sharply and then slowly ease back to retest the low before rallying higher throughout the rest of the year. This means we have a few weeks of filtering out the good opportunities to buy on the second chance dip. Today we have the RBA rates decision which will likely be a non-event, and GDP figures on Wednesday.

Today we look at Goodman Group ((GMG)).
 

 

GMG has seen a very flat performance during this year but so far that is a better result than the overall market. This chart going back about five years shows the steady uptrend in GMG and despite the recent volatility, the GMG share price has only come back to the long term uptrend support line. From here it appears as though GMG should rally higher and resume the uptrend. If this support level breaks, then we have lower support near $5.70 and then further down at $5.50.
 

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.

Find out why FNArena subscribers like the service so much: “Your Feedback (Thank You)” – Warning this story contains unashamedly positive feedback on the service provided.

Click to view our Glossary of Financial Terms