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Share Trading Tip 3 April 2012
by Michael Gable - Private Client Adviser at Novus Capital
ASG Group Limited (ASZ) – Last $0.825
ASG Group is an IT management and consulting services company. The yield this year is sitting at 9.1% and is fully franked. They have a defensive long term client base in the government, commercial, and mining sectors, and they are experiencing rapid adoption of their Cloud based services. From a trading perspective, these are the levels to be buying the stock. ASZ has broken out of the downtrend and started to base build. Volume is now starting to accumulate down at these levels. It is too early to say when the stock will break out of this base, but the downside in the share price appears limited. With a high dividend though, I would be happy buying at these levels and be a part of any potential upside in the share price that may occur over coming months. Once the stock breaks out of the base, a move up to $1.10 over several months is a possibility.
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Unless specifically stated within this document, any information communicated constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter. Novus believes that any information or advice (including any financial product recommendation) contained in this document is accurate when issued but do not warrant its accuracy or reliability. Novus is not obliged to provide you with updated information or advice if circumstances change. Novus, Legal Practice Intelligence, their directors, officers, associates and employees exclude to the full extent permitted by law, all liability of any kind whether in negligence, contract, under a fiduciary duty or otherwise, for any loss or damage, whether direct, indirect, consequential or otherwise, whether foreseeable or not, arising from or in connection with this document.
Michael Gable is a Private Client Adviser with Novus Capital and provides individuals with advice on portfolio management and share trading.
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