abn amro : really smart info !!!!
MINI Trading Buy: Incitec Pivot (IPLKZD) – Trade the bounce
IPL closed above the $2.70 level we suggested as an entry signal. Look for a move to the mid $3's from here with stop loss $2.50. Expect IPL to be well supported given the stock is trading on forward P/E of 7x and an 8% yield. IPLKZD is the way to play the trade.
Technically IPL was in a strong uptrend throughout 2007 and 2008 as the price of fertilizer rose, reaching a high of $9.03. Since then the stock has fallen ~70% but has found support in the mid $2 region. Now that the company has completed a capital raising in late 2008, the balance sheet is well placed and the stock appears to have found support and is ready for a bounce. Breakout of $2.70 would be a bullish entry signal for a move back up through $3.
Play IPL through IPLKZD. A move from $2.70 to $3.40’s in IPL would give ~100% return on IPLKZD. Stop loss at $2.11
market update, page-35
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 (20min delay)
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Last
$2.88 |
Change
0.020(0.70%) |
Mkt cap ! $5.593B | |||
| Open | High | Low | Value | Volume |
| $2.89 | $2.91 | $2.87 | $11.11M | 3.854M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 172854 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.89 | 15695 | 2 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| IPL (ASX) Chart |