Aspen : Bullish price action
Updated
Aspen had an incredibly difficult 2018, with the stock losing over half of its value in only a few months.
The sale of Aspen’s infant milk business (a price below market expectations) together with the elevated debt levels are seen as major catalysts leading to the decline in Aspen’s share price from R 260.00 to below R 130.00.
Reviewing the time series, we note signs of positive momentum indicators, this after building a solid base around the R 132.00 / R 135.00 levels.
Stock is starting to re-act to most recent broker upgrades and can possibly recover to the R 200.00 - R 220.00 over the medium term.
One to watch!
The sale of Aspen’s infant milk business (a price below market expectations) together with the elevated debt levels are seen as major catalysts leading to the decline in Aspen’s share price from R 260.00 to below R 130.00.
Reviewing the time series, we note signs of positive momentum indicators, this after building a solid base around the R 132.00 / R 135.00 levels.
Stock is starting to re-act to most recent broker upgrades and can possibly recover to the R 200.00 - R 220.00 over the medium term.
One to watch!
Note
Expecting some consolidation at around the R 154.00 - R 156.00 levels.Happy with medium term target towards the R 200.00 - R 220.00 levels!
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