MCG macquarie communications infrastructure group

time to short?

  1. 520 Posts.
    This stock has had a run since April from 5.60 and looks overbought. Mostly ran up on the index changes, inclusion in asx 100.

    Now its had 3 lower lows in the last 3 trading sessions and 650 looks like a double top (previous high in Jan before it dumped). I reckon its a short here with stop 655.

    Other pts...

    JP Mogan has been selling.

    Co. has huge debt, still making a loss (10c ps).

    Nasdaq and techs looking weaker.

    Any comments welcomed from shorters like syringe..
 
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Currently unlisted public company.

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