Utilities Stocks News and Tips on the ASX.
Share to sell – Oz Minerals (OZL)
A recommendation to sell OZL is based primarily on the weakening gold price. Gold price forecasts have been slashed across the board, by between eight and 14%. This has been done to reflect expected US rate rises and lacklustre demand. Technically, OZL is in a downtrend, having sold off from $5.10 in May to presently be trading near support in the $3.70 region. The EMAs are bearish, momentum has turned bearish and the stock is not yet oversold.
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