Our ALGO engine triggered a sell signal on CTX on June 21st just above $31.25.
A recent broker note has updated its rating on CTX to “outperform” and given the share price a 12-month target of $37.00.
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The share price has come under pressure over the last few sessions as last week’s fuel supply extension with Woolworth’s was expected to result in an $80 million reduction in CTX’s EBIT.
We expect the share price to find support around the $30.50 area and will update on specific buy levels in a future posting.
Caltex
