Algo Signal Update – Graincorp

We continue to track GNC following the recent Algo Engine buy signal.

GNC has proven tricky in identifying the price reversal, however, we feel it is approaching an oversold level and ready for a bounce higher.

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$8.50 is support and investors could build long exposure now with tight stops. a break below $8.50 may set-up a new buying range in or around $8.30.

Keep this one on your watch list.

Chart – GNC



Author: Leon Hinde

Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.

PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:

· Deposit Products
· Securities
· Derivatives
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks