Echo Entertainment (EGP) looks very interesting here
Echo Entertainment (EGP) looks very interesting here. This is why. 1. Positive trading for the March quarter saw revenues up 13.2%. 2. Matt Bekier joins EGP as CEO/MD and provides the company with stability to implement a turnaround strategy. 3. Lock out laws in NSW adds to non-gaming revenue growth at The Star casino. 4. Lower capital expenditure means higher cash generation as refurbishment projects start rolling off. 5. The charts show a breakout from a base, with positive momentum as measured by the RSI. As long as it doesn't break into the base, it should head to the first stop which is resistance at $3, and then major resistance at $3.40. When we combine the fundamentals and technicals, we uncover new opportunities.
Michael Gable is managing director of Fairmont Equities. We are a small boutique advisory that uniquely combines both fundamental and technical analysis. As a result, our analysis is featured regularly in the finance media such as the Australian...
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