Our ALGO engine has triggered another buy signal for SUN into yesterday’s ASX close at $13.68.
SUN has been a popular short CFD position on our SAXO Go trading platform since trading at $15.50 two months ago.
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We now suggest that investors holding short SUN positions buy them back to close the trade.
After our first ALGO signal on October 2nd, we suggested that SUN would be a reasonable buy/write strategy near the $13.60 support line.
Ongoing deleveraging in the domestic market may challenge the $13.60 price point and we will update SUN in a future posting.
Suncorp
