ALGO Buy Signal For Tabcorp

Our ALGO engine triggered a buy signal for TAH into yesterday’s ASX close at $4.22.

This “higher low” pattern is referenced to the $4.16 low posted on October 18th, 2017.

You're not a member!  Trial today!

Since the company last reported earnings in February, the share price has dropped over 20%.

Technically, the price has reached oversold territory. Fundamentally, we feel investors are currently overlooking the cost savings of the newly merged company.

We believe TAH represents good value at in the $4.25 area and that shares will rally into the next earnings report scheduled in August.

TAH will also pay a 12.5 cent dividend in August, which pencils out to a 5.9% annual yield.

Tabcorp

Author: Todd

Todd has worked in the financial industry for 20 years. During this time, his primary focus has been in the Foreign Exchange, Global Equities and Fixed Income areas. Todd has also served as a Judicial Advocate in several tax cases in the US Federal Court.