Technology One Shares Aiming For A Breakout

This story features TECHNOLOGY ONE LIMITED. For more info SHARE ANALYSIS: TNE

The company is included in ASX100, ASX200, ASX300, ALL-ORDS and ALL-TECH

By Michael Gable 

As highlighted last Tuesday, we expected a relief rally within a day or so and we seem to be part of the way through that now.

Sticking to price action and not getting caught up in all the different tariff effects and permutations, we can see markets trying to head higher from here, but a retest of the recent lows wouldn’t be out of the question, and in some respects would be a good way to gain more confidence that what we saw last week is indeed a low, at least for the time being.

Following on from our bullish commentary on gold in the past year or so, silver’s upside could be substantial over time, but silver tends to lag the gold price until the very last moments of the gold bull market.

This means that although silver is looking positive, gold is likely to outperform it for a while yet.

Today we offer a technical view on Technology One ((TNE)).

We looked at TNE on a few occasions in the past year as it was trending very well.

However, in late February it broke under the 50-day moving average (dotted line) and then in March it broke under the January low.

With the uptrend now over, we need to see the stock get back above these key levels for the chart to look more positive again.

Therefore, a push above $29.50 would be a buy signal.

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)

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

Disclaimer

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.
 

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.

FNArena is proud about its track record and past achievements: Ten Years On

Click to view our Glossary of Financial Terms