Select Harvests Ltd (SHV.ASX)

11 October 2017



Technical Summary: SHV has had a pretty tough time of it in the last couple of years. The stock suffered a dramatic sell off towards the end of 2015 through to the middle of 2016. The stock rallied during the back half of 2016 but this proved to be a dead cat bounce and the stock has continued its trend down. The stock has stuck its periscope a couple of times above the 50-day moving average only to be sold down further. In the last week the stock has been the centre of takeover speculation, which the company confirmed after a two-day trading halt. This takeover halt came on 52 week lows and propelled the stock to above $5.20 per share. Unless you felt that there was potential for a competing takeover offer investors may consider using this as an opportunity to exit the stock.

Exciting chart in a downtrend and a recent takeover offer

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