Aristocrat (ALL.ASX)

26 April 2022

Technical analysis: Aristocrat has been a strong performing stock, despite weakness this year, it has had a history or recovering back strongly, testing fresh highs. Before the recent sell-down its supportive levels would continue to rise at a strong rate. The current sell off has seen Aristocrat being oversold three times over three months, and we think that there is still some volatility over the near-term but the downside risk is limited at current levels, making it an attractive entry or re-entry point for medium-term investors – assuming Aristocrat continues on its typical recovery rally.

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