Australia | 1:38 PM
The Chartist sees a healthy pause in Aristocrat Leisure shares, following the breakout, setting the stage for another leg higher.
By The Chartist
Technical discussion
Reasons to be cautiously optimistic:
- Management has reiterated its US$1bn FY29 interactive revenue target.
- Content franchises continue to dominate.
- AI could be an opportunity rather than a threat for incumbent slot suppliers.
- A 1% rise in market share equates to an estimated US $11m in revenue.
- Has pushed above a zone of resistance with conviction.
A straight-line leg higher had taken ALL above a solid zone of resistance during our last review. It looked overbought in the short term, so a small retracement or period of consolidation was on the agenda.
Re-published with permission of the publisher. www.thechartist.com.au All copyright remains with the publisher. The above views expressed are not by association FNArena's (see our disclaimer).
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