Our ALGO engine has triggered another buy signal for SUN into yesterday’s ASX close at $13.68.
SUN has been a popular short CFD position on our SAXO Go trading platform since trading at $15.50 two months ago.
We now suggest that investors holding short SUN positions buy them back to close the trade.
After our first ALGO signal on October 2nd, we suggested that SUN would be a reasonable buy/write strategy near the $13.60 support line.
Ongoing deleveraging in the domestic market may challenge the $13.60 price point and we will update SUN in a future posting.
Suncorp