Technical outlook – The two leading indicators (MACD and RSI) patterns appear to a have ‘bottomed out’ earlier this month, which may in terms, leads up to a potential bullish breakout. Along with the pattern, the leading indicator (MACD) pattern is on the verge to support our bullish outlook. Therefore, it is likely the bulls may ‘step up their pace’ and stage a move towards an immediate target holding to $3.11 before any initial selling (profit-taking) emerges.
Company Overview – Adelaide Brighton Limited (ABC) is an integrated construction material and lime producing a group of companies focused on the construction, engineering, infrastructure and resource sectors in Australia. ABC has three main operating divisions being: Cement, Lime, Concrete and Aggregates and Concrete Masonry Products. Former Names: Adelaide Cement Holdings Limited, 28/02/1971; Adelaide Brighton Cement Ltd, 27/8/1976; Adelaide Brighton Cement Holdings Ltd (ABC), 29/11/1993.