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Breville: Struggling

Technicals | Sep 19 2023

This story features BREVILLE GROUP LIMITED. For more info SHARE ANALYSIS: BRG

By Michael Gable 

The S&P/ASX 200 Index continues to trade in a range. We noted last week that it was at the lower end and therefore a chance to buy, but it has given back some of those gains yesterday as the trading range starts to tighten up.

As we have mentioned previously, the tightening range is a positive for the longer-term as it means we are likely to be getting close to breaking out of this range and the market can start trending again.

The next general catalyst for markets will be the FOMC interest rate decision later this week.

US yields across all time frames look set to spike higher and everyone seems to be focused on that, but it is also worth keeping an open mind for any yield breakout to fail.

That would be a very telling sign on where longer-term rates are heading and that would be positive for equities, if that were to occur.

In this week's report, we have a chart of Breville Group ((BRG)).

Over the past year, BRG was forming an ascending triangle with a level or resistance in the mid $22's.

It managed to break above that in early August, but it has failed to kick on. It is now retesting that old resistance line, but short-term price action is weak.

We wouldn't be surprised if it struggles to gain support here. If that is the case, then we would be looking for levels closer to $21.

Investors looking to get into BRG can therefore be patient for lower levels.

Content included in this article is not by association the view of FNArena (see our disclaimer).
Michael Gable is managing Director of  Fairmont Equities (

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

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


Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). 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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