Carsales.Com is under Algo Engine sell conditions following the lower high formation at $13.50.
Earnings guidance provided by Carsales for FY19 are for EBITDA of $210mn and NPAT of A$131mn. Revenue guidance was a little weak, indicating full year profits are being supported by cost out initiatives.
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We will review CAR on the price retracement & Algo Engine buy signal.
