Our ALGO engine triggered a sell signal on SUL into Friday’s ASX close at $8.78.
This “lower high” formation is referenced to the $9.12 high posted on January 18th.
Super Retail Group is the company behind the Rebel, Supercheap Auto and BCF brands.
The stock is not excessively expensive at 12X trailing earnings and a fully franked 5.2% dividend, but we see the potential for a technical correction which could drift back into the $8.00 range over the near term.
Super Retail Group