Our ALGO engine triggered a sell signal in BXB on yesterday’s ASX close at $10.19.
This was the highest closing price since June 26th, but still within the technical “lower high” pattern based on the May 29th high trade at $10.70.
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We consider the current price level to be near the top of the counter trend range and ready to trade lower.
Fundamentally, BXB is trading at 19X earnings and a 3.1% yield based on FY18 earnings
For those CFD traders using our SAXO Go platform, we see the next significant price support level near the early November lows at $9.40.
Brambles
