Trading tip: Origin could rally 30% from here
In being an energy retailer as well as a gas and oil producer, should Origin be better sheltered by the drop in oil prices? Lower oil prices have sent the share prices of energy companies lower, but what if the company is as diversified as Origin? Part of the business acts like a utility and part of it is exposed to LNG production. The share price is trading ahead for the calendar year so far. Much of it can be attributed to a rising oil price. However, despite calls of the oil price now momentarily looking “toppy” we can see signs of the market not wanting to take its profits yet. The chart for Origin is actually indicating that further upside may be in store for the next few months. (VIEW LINK)
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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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