IAG – Finding Support At Current Levels

Our Algo Engine triggered a buy signal for IAG at $6.95.

This “higher low” pattern is referenced to the $6.56 low posted last October.

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The stock is a current holding in our ASX 50 and ASX100 model portfolios.

With the share price trading sub $7.00 we consider value is now on offer.

IAG recently announced it had sold its operations in Thailand, Indonesia and Vietnam. Following this, the company indicated they would return $592 million of capital to shareholders.

In FY19, IAG will pay $0.195 capital return and a $0.055 special dividend.

 

 

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