What’s Happening to the Share Price of Elders Ltd?

Elders ltd
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What does Elders Ltd do?

Elders Ltd [ASX:ELD] supplies seeds, fertilisers and general products to Australian and New Zealand farmers. They provide real estate and financial advice, and they also assist farmers in the sales of livestock, wool and grain.

That’s interesting, but what is the chart telling us?

What does the chart look like?

I find it helpful to bring up a chart. The daily chart of ELD.

Elders Ltd Chart

Source: STEX

The company’s share price was up again today making a high at the time of writing of $4.23. The chart is suggesting that the business fundamentals are good presently and that the company is in a strong position to grow revenues.

What now for ELD shares?

The last significant announcement from this company came mid-May. That news was positive with net profit up $26 million in the corresponding period.

See how the share price is moving in relation to that announcement. The chart continues to break into new highs. You could expect further positive news to come from this company. Let’s wait and see.

The recent live trade deal with China, which could see cattle shipped to China within months, is another boon for the company.

Use the charts to forecast future announcements and guide your investment decisions. You can get started here.
Cheers,
Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

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