Flight Centre Travel Group is under Algo Engine buy conditions and is a current holding in the ASX 100 model.
It is, however, in negative returns. We hold 38 stocks in the ASX100 model, with only two names showing negative returns. AGL down 1.15% and FLT down 17%. Otherwise, all holdings are performing positively.
So, can FLT recover from here? Flight Centre is on track to deliver within the FY19 guidance range of $335-360mn in earnings before tax. This places the stock on 18x earnings and 3.8% yield.
We see technical support at sub $40 and are sellers into the high $40 price range.