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.
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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
