ASX Trade Ideas

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ASX Trade Idea

As a preferred customer of CMC Markets Stockbroking, here´s your ASX Trade Ideas from TRADING CENTRAL.

24 March 2015

We BUY QBE Insurance Group (QBE) @ 13.16

Technical View

Technically, the stock remains bullish above its nearest gap, which should provide a strong support. Both the 20-day & 50-day simple moving averages are heading upwards. Besides, the daily RSI stands firmly above its neutrality area at 50%. Therefore, even though a consolidation cannot be ruled out at the current stage, its extent should be limited before further advance to 14.85 and 15.45 in extension.

LAST: 13.16
ENTRY: 13.16
STOP: 12 (-8.81%)
TARGET 1: 14.85 (12.84%)
TARGET 2: 15.45 (17.40%)

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