Our ALGO engine triggered a buy signal in SYD on August 2nd at $6.85. Since then it’s traded as high as $7.60 and is currently in the $7.30 area.
We hold this stock in the model portfolio and feel the fundamentals of the business continue to point to higher prices.
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Recent reports show that more than 43 million travellers will fly into Sydney this year. That’s almost double the 23 million per year when it was privatised in 2002.
We have a $8.25 price target on SYD and will look to write cover calls in that area to enhance portfolio returns.
Sydney Airport
