Aristocrat Leisure Limited (ALL.ASX)

4 April 2018

Technical Summary: It is a beautiful 5 year chart for ALL as the stock has consistently found its way to new all time highs on the back of a strong fundamental performance. To a large extend this has been reflected in the shareprice performance over the last year. 25 Moving from left to right on the 1 year chart above, the stock became overextended after a good run in June 2017. It was a natrual time for a pull back and a consolidation at this point. The price action from here has been pretty choppy, epitomised by a huge red candle in the middle of the chart. Since that time the stock has been oscillating between areas of of support and resistance, allbeit with an upward bias. A prudent strategy it would seem would be to initiate a position when the stock returns to the 50 day moving average and shows strength. This would make the stock buyable at the current juncture when it shows strength.

A new name for us and a beautiful 5 year chart

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