ATM Stock Research - Reiterate BUY on SYD @ $5.48
SYD Tech analysis Summary –
Sydney Airport is ATM’s long-term defensive stock with a huge growth Potential in the longer run. Around mid-March SYD stock pulled back to $4.37 from its all-time highs of $9.30 as Covid 19 news triggered a massive pull back around the global markets. From there as the short-lived recovery started the stock retraced back to $6.31 to face another reversal that touched the $5.00 mark. Chart depicts a favorable entry support at $5.40 for the buyers and the stock is now placed for a long-term recovery. Chart shows the beginning of an Uptrend with a new found long term support at $5.00 price. At the time of analysis SYD stock has already tested the resistance at $6.24 three times in the recent past. From the experience we can see that the stock can break this resistance in a relatively shorter term and will head north. In the next leg of the uptrend, we see a clear achievable target of $6.80 in the medium term. ATM Stock Research recommends a high risk but high conviction long term Buy to all its clients supported by both Fundamental and technical analysis. Read our Stock report in the members area.
atmstrategy.com.au/admin/
Sydney Airport is ATM’s long-term defensive stock with a huge growth Potential in the longer run. Around mid-March SYD stock pulled back to $4.37 from its all-time highs of $9.30 as Covid 19 news triggered a massive pull back around the global markets. From there as the short-lived recovery started the stock retraced back to $6.31 to face another reversal that touched the $5.00 mark. Chart depicts a favorable entry support at $5.40 for the buyers and the stock is now placed for a long-term recovery. Chart shows the beginning of an Uptrend with a new found long term support at $5.00 price. At the time of analysis SYD stock has already tested the resistance at $6.24 three times in the recent past. From the experience we can see that the stock can break this resistance in a relatively shorter term and will head north. In the next leg of the uptrend, we see a clear achievable target of $6.80 in the medium term. ATM Stock Research recommends a high risk but high conviction long term Buy to all its clients supported by both Fundamental and technical analysis. Read our Stock report in the members area.
atmstrategy.com.au/admin/
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