Altium – Buy

Altium is under Algo Engine buy conditions. The share price is oversold and likely to rally from the current level.

A more conservative entry strategy will be to wait for the stochastic to turn higher or the price action to cross up through the 10-day average.

25/5 Since writing the above post in mid-May, ALU has rallied 20%. We anticipate a pick-up in earnings for the 6 month period ending June 30 and will be looking for confirmation that 2020 was an anomaly in the company’s growth trajectory.

Buy ALU with stops below $24.00

Altium – Buy

Altium is under Algo Engine buy conditions. The share price is oversold and likely to rally from the current level.

A more conservative entry strategy will be to wait for the stochastic to turn higher or the price action to cross up through the 10-day average.

Altium – Technical Review

Altium is under Algo Engine buy conditions.

ALU’s comments point to a continuing challenging trading environment, due to COVID-19, particularly in the US. The company reiterated FY21 guidance for 6 – 12% revenue growth and EBITDA US$76-89m.

Watch the short-term indicators for a turn higher within the $31 – $34 price range.

NOTE: High risk trade due to extended PE valuations.