Our ALGO engine triggered a buy signal for SUN into yesterday’s ASX close at $14.32.
This “higher low” pattern is referenced to the low of $13.27 posted on January 6th.
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As illustrated on the chart below, we still see scope for SUN to probe lower on fundamental headwinds impacting both the banking and insurance sectors.
As such, we will look for the stock to trade lower, into the $13.00 handle, before committing funds to the long side.
Suncorp
