REA Group rallied 5.5% on Friday following a better than expected earnings result. Our Algo Engine triggered a buy signal Thursday after 3.30pm going into the market close.
The chart below shows the entry signal, along with the $87 support level where buying interest began to accelerate.
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