Shares of Origin Energy continue to slide after announcing yesterday that the company will take a $1.031 billion impairment charge on the APLNG gas export project in Queensland. This was the largest part of a broader $1.9 billion post-tax write-down.
Origin raised the bottom end of its forecast range for annual EBITDA by 3% to $2.45 billion, but kept the top end of the forecast at $2.62 billion.
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Origin shares are down over 2% so far today at $7.10. We see initial support coming in at or near the $6.88 level.
Our Algo Engine created a buy signal in September 2016 at $5.00
