NRW Holdings is now under Algo Engine buy conditions following the high low pattern at $2.10.
The stock is outside our normal radar, however, we notice a number of analysts have recently upgraded their earnings outlook for the company.
The positive sentiment is based on an increase in work under contract and scope from existing contract mining clients to increase.
We see upside risk to forecasts from higher than expected conversion of the group’s resources pipeline, (opportunities from iron ore projects in particular) and the East Coast infrastructure project.
We flag NRW Holdings as worthy of further analysis. Watch the short-term indicators for a turn higher.
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