Treasury Wine Estates Limited (TWE.ASX)

25 July 2018


Technical Summary: The stock of TWE has been on a long term uptrend and over the last 5 years has moved from around $3 per share to nearly $20. This trend has has largely continued over the last year with the stock working its way to new highs. The stock in the last few months has largely been consolidating. It has attempted to breakout to new highs from solid looking bases. It is interesting that a recent attempt was scuttled from a fundamental update. This resulted in the stock making a return to its base and to continue consolidating. The price action is a bit volatile at the moment and the stock looks a bit overextended from its 50 day moving average. This means that those looking to get into the stock may decide to wait for a better opportunity.

Long-term uptrend for TWE

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