We recommend buying Tabcorp as the price action retests the recent support level at $4.37.
Institutional money re-positioning ahead of the August earnings result will be the likely catalyst, which sees the share price trade back to the $5.25 level.
TAH goes ex-div $0.125 on the 11th of August.
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
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks