Technical outlook – The rebound from the $2.60 trough posted six-months ago was revisited late October 2020 and now puts in a bullish ‘marker’, (or short-term base) for Austal Limited (ASB).
From the initial rebound, the two leading indicators, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) both at present are strengthening to a bullish bias.
A break above $2.85 is expected to give the bullish call to $3.10-15. Reassess from there.
Company Overview – Austal Limited (ASB) is an Australian shipbuilder and global defence contractor who designs, manufactures and supports high-performance vessels for commercial and defence customers worldwide.