fbpx

Bluescope – Where Are The Buyers?

Bluescope has sold off from $19 (mid-year), to now be trading at $12.10. The stock was expensive and we’re now back in fair value range.

The outlook is uncertain as US and Asian steel spreads contract and lower steel prices negatively impact forward earnings.

You're not a member!  Trial today

Also, leading indicators for the domestic residential construction market are creating investor concerns.

We expect cautious outlook comments from the AGM trading update on Friday, 23 November.

Watch for buying interest to build above the $10.50 support level.

Bluescope

 

Investor Signals Pty Ltd ABN 44 143 555 453 is a Corporate Authorised Representative CAR No. 439411 of Advisor Plus Pty Ltd AFSL 474520
© 2024 Investor Signals

Send our ASX Research to your Inbox

Or start a free thirty day trial for our full service, which includes our ASX Research.