$ASH ASX - Ashley Services Group Might have a bit of momentum coming through. Check your charts. DYOR. Stops in.
Ashley Services Group Limited is engaged in the provision of labor hire (including retirement) and training services. The Company's segments include Labour Hire and Training. The Company offers recruitment services, such as permanent, temporary and contract placements. It offers various courses for a range of industry sectors from aged care, children's services, food/meat processing to transport and logistics. The Company provides technical training to the telecommunications and electronic security industries. The Company also provides work-based training and classroom programs in hospitality, business, leadership and management, food processing and retail sectors. The Company serves warehouse, logistics, fast-moving consumer goods (FMCG), food, pharmaceutical, manufacturing and trades industries. Its labor hire brands include Action Workforce and Concept Engineering. The Company's training brands include Ashley Institute of Training, Integracom and Tracmin, among others.
ASH trade ideas
ASH Commences New UptrendAshley Services Group has begun a new uptrend. This is marked by the breakout on significant volume of the 200EMA (daily). The price has consolidated since the break for a number of weeks. The exit for this position is set at two days trading below the 200EMA, or one day if the move is a significant break. My entry at 18c is limited by 9% downside to the 200EMA.
This is a long term momentum-based position. There is no target price for this position - it has unlimited upside and downside limited to 15% - both based on crossing the 200EMA.
From a fundamental point of view the company has recently shown some strong evidence that it has successfully turned itself around from recent losses. Continual improvement in earnings is likely to fuel growth over the medium-term. The company is currently trading on a trailing P/EBITDA ratio of around 4.5, which is by no means demanding.
