TODAY’S SHARE SUGGESTION BUY SFE Corporation Ltd (ASX Code: SFE) Price at Closing: $6.44 Recommendation: BUY at or above $6.44 Stop Loss: $6.15 Company Profile SFE Corporation Limited (SFE) is a financial exchange that provides trading and clearing services within the international derivatives industry. SFE offers trading products for investment and risk management, disseminates real-time and historical trading market data and provides centralised clearing, settlement and depository services for derivative and cash products. It plays an important role in the facilitation of exposure management for domestic asset portfolios for fund managers and banks as well as foreign investors SFE has over the past few years experienced explosive growth and has become a premier derivatives market player in the Asia Pacific region. This has largely resulted from a sound operating, financial, regulatory and governing structure. We believe this strong performance will continue in the future. The recent government's affirmation of its commitment to the Commonwealth Government Securities futures market has been a supporting factor in the recent rebound in its share price. Its marketing and business development efforts including the facilitation of offshore links will provide additional volume growth. This includes the introduction of cross border interest rate derivatives markets. Technical Analysis Today’s breakout above the short-term downward trend line confirms that the longer-term upward trend is still intact. The last three white candles along with the previous two day’s mild gaps indicate continued bullishness in this stock. We are now targeting a share price toward the previous all time high of $6.80, representing a short-term return of at least 5.6%.
SFE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
