Alpha Recommendation: BUY John Lyng Group (JLG)
Date: 16/08/2024
*** GENERAL AVICE ONLY***
Johns Lyng Group Limited (JLG) consist of Insurance Building and Restoration Services, Commercial Building Services. The existing resources will be focused on large-loss insurance building services. Current work now relates to legacy contracts and projects.
Rationale:
JLG was recently added to the MPC Balanced Portfolio at lower prices. JPG has had a nice bounce off recent lows and this has triggered some techical buy signals. With US having suffered from two recent hurricanes, there are also fundamental reasons for JLG to continue this rally
Trade Strategy:
Buy John Lyng Group (JLG)
Long Entry: Buy up to $4.00
Target: $4.70
Stop: $3.65. Use a trailing stop loss
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.