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INGHAMS GROUP LIMITEDINGHAMS GROUP LIMITEDINGHAMS GROUP LIMITED

INGHAMS GROUP LIMITED

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ING trade ideas

Possible Gap up on #ING.ING has an Ascending Triangle that has formed since early December. With price finally breaking and producing a hammer on the new support level. There is however a potential for a fake out, therefore, it is important to place the buy order in a position that reflects this risk. With the massive gap that hasn't been filled since last August, there is no reason why it cannot be filled if a breakout occurs. Buy Price: $3.54 - Just above this resistance Stop Loss: $3.47 Target: $3.74 - Although this may take abit for the gap to be fully filled
ASX:INGLong
by BeerCanCapital
$ING - INGHAMS CHICKENS - Anticipating growth$ING - INGHAMS GROUP LIMITED Nice steady performing share setting up for more growth. ING have been buying back their own shares and the bots rate them a strong buy so who am I to argue. It is a pretty heavily shorted stock, but I'm happy to bet against them. Might be a little pull back short term with the inflated RSI, but I like them because I think as the economy increasingly continues to turn sour I think more people will more regularly eat at home and turn to chicken as opposed to more expensive cuts of meat such as beef etc. Fast food chains such as KFC which Ingham supplies also tend to benefit as people switch to less expensive dining out options. Ingham is also anticipating more growth based on their December 4th announcement below. Ingham’s invests in infrastructure to support profitable growth Inghams Group Limited is pleased to announce that it will build a new poultry hatchery in Victoria at a cost of $46 million. The new hatchery, which will replace an existing facility, will improve productivity and increase capacity to support anticipated growth in demand. Recently appointed Chief Executive, Jim Leighton, said “this significant investment demonstrates our commitment to all of our stakeholders in supporting infrastructure projects that deliver profitable growth”. The construction of the new hatchery is expected to be complete by the end of 2020, employing approximately 100 people during the construction phase and providing 20 ongoing jobs when fully operational. Inghams Group Limited is an Australia-based integrated poultry producer. The Company has two operations: poultry, which is engaged in the production and sale of chicken and turkey products across various categories, such as primary, free range, value-enhanced, further processed and ingredients, and stockfeed, which is engaged in the production of stockfeed for use by the poultry, pig, dairy and equine industries. The Company operates through two geographic segments: Australia and New Zealand. The Company's operations include approximately one quarantine facility, over 10 feedmills, approximately 74 breeder farms, over 11 hatcheries, approximately 225 predominantly contracted broiler farms, as well as over seven primary processing plants, approximately seven further processing plants, over one protein conversion plant and approximately nine distribution centers across Australia and New Zealand. The Company's brands include Ingham's and Waitoa.
ASX:INGLong
by zAngus