Last week we suggested a buy level for ASX Ltd near $58.00.
With yesterday’s low intraday print at $57.80, that downside buy target has been reached.
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Also, with the share price sliding over 15% lower during the last month, internal momentum indicators are now oversold and a reversion higher looks likely.
At $58.00, the stock is on a forward yield of about 4%. We see the first level of resistance near $62.60 and up to $64.00 over the longer-term.
ASX Limited
