Select Harvests Limited (SHV.ASX)

12 February 2019

Technical Summary: The five year chart of SHV shows a stock that is impacted significantly by the price of the underlying commodity of the product that they sell. The resultant price action is huge swings in stock price depending upon supply and demand. This means that the stock is typically best to be traded as opposed to buy and hold. Traders should wait for the right setup before taking action. One of the situations might be forming at the moment on the one year chart. The stock rallied to highs of $7.50 before pulling back and finding support at $ per share. The stock has since rallied and is now consolidating around its 50-day moving average. The price action appears to be tightening which often occurs as supply dries up before a breakout. Traders should add this to a breakout watchlist.

Positive recent price action from SHV means that a breakout could be imminent.

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