Suncorp Near Resistance At $14.20

Recent research on SUN has outlined a number of earnings hurdles the company will face for the rest of 2108 and into next year.

The hurdles include a higher trajectory of operating costs, findings of the royal commission on the insurance industry and lower Gross Written Premium growth.

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All of these combined will likely lead to a lower underlying profit margin outlook.

Technically, our ALGO engine triggered a sell signal last November at $14.20 and we see price resistance in this area.

Our initial downside target is $13.35, followed by $12.90 over the medium-term.

Suncorp

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