ALGO Buy Signal For Santos

Our ALGO engine triggered a buy signal on STO into yesterday’s ASX close at $5.50.

The “higher low” pattern is referenced to the $4.80 low posted on March 15th.

You're not a member!  Trial today!

The share price has dropped over 15% since the company rejected a $6.86 per share takeover offer from Harbour Energy last week.

Since then, there have been internal discussions about a higher takeover price, as well as whether the current management can use their strong balance sheet to increase earnings restore a fully-franked dividend.

Technically, we see solid support near the $5.30 area and initial upside resistance at $6.10

Santos

 

 

 

 

 

 

 

Investor Signals Pty Ltd ABN 44 143 555 453 is a Corporate Authorised Representative CAR No. 439411 of Advisor Plus Pty Ltd AFSL 474520
© 2020 Investor Signals