Cimic Group is under Algo Engine sell conditions since forming a lower high back in February at $50.
A weak first-half earnings result has seen the sell-off accelerate in the past few days. We’d normally give this name a wide berth, whilst we wait for confirmation of earnings and in particular, free cash flow improvements.
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However, we draw your attention to the “up to 10%” share buyback which the company will recommence in August.
