Downer EDI recently moved into Algo Engine sell conditions after forming a new lower high at $7.50.
Downer reported 1H FY19 revenue of $6.6bn, EBITDA of $413mn and underlying NPATA of A$146mn, up 11% on the same time last year. Full year FY19 earnings are likely to be around $330mn.
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We will take another look at the buy-side of Downer on a pullback below $6.80.
