What does Australian Careers Network Ltd do?
Australian Careers Network Ltd [ASX:ACO] is an education provider, for workplace training and employment. They provide students with nationally recognised qualifications and workplace training.
ACO also provides a labour hire and recruitment service to a wide variety of industries.
Anyway, it released news this week. The full financial year results for 2015. The results revealed that revenues were up by a massive 78%.
That’s interesting but what is the chart telling us?
What is the chart telling us?
I find it helpful to bring up a chart. Here is the daily chart of ACO.
Can you see that the positive full year results were already known at least a month ago?
Also you can see in the chart that this stock trades thinly. You have to apply the appropriate risk management for any stock that looks like this.
What now for ACO shares?
We watch it now; see how it reacts to the positive full year results. We can use the news as a reference point to see what the future holds for this company.
You could also read the company announcements for this company. They tell you things you should be aware of. You should actually do this for every company your studying. Firstly you can’t read the charts correctly without reading the announcements and secondly there are valuable things to be picked up by doing so.
This sector has really come under a government crackdown of late. Some vocational training providers have been exposed as providing inadequate training. And issues with some of its competitors could see ACO grow its market share and student numbers.
To profit from market moves and read the news before it happens, go here.
Research Analyst, Cycles, Trends and Forecasts