Target Reached

Origin Energy Ltd

January 21, 2020 - 1 month ago
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Action Sell
Term 30 Days
Called At $8.58
Target $8.15
Current Price N/A
Performance 5.01%

Technical outlook – The six-months bullish display since establishing a base at $7.00 is now appearing to be heading back into the bearish territory for Origin Energy (ORG) after clearly having trouble breaking through the $8.80 resistance on more than three or so occasions in the last nine weeks.

Therefore, this in terms, supports a pull-back in the near-term.

A break of $8.40 should give further leverage to the downside before any initial bullish call is expected.

With the two technical indicators, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) locked into a potential ‘bearish marriage’ gives our call to the region of $8.15 before any expected profit-taking emerges.

Company Overview – Origin Energy (ORG) is an integrated energy company focused on gas and oil exploration and production, power generation and energy retailing in Australia. Its key operating segments include exploration & Production, generation, renewable energy & selling energy. Former Names: Formerly Boral Limited (BOR), resulting from the demerger of Boral Ltd (BOR) into Origin Energy (ORG) and Boral Ltd (BLD) on 21/02/2000.

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