Technical outlook – Approaching this share from a technical perspective, since the gapped down price action from $17.77 to around $13.00, prices have held to a steady series of lower highs and lower lows (downtrend).
As we assess this share, we believe the market is close to a bottom.
Therefore, we view this share is soon to stage a course correction and look back to the region of $14.00 and reassess from there.
Company Overview – Treasury Wine Estates Limited (TWE) is a global wine company with an international portfolio of wine brands and viticultural assets.
TWE’s wine portfolio includes wine brands: Penfolds, Beringer, Lindemans, Wolf Blass and Rosemount Estate and more.
The Company owns over 13,000 hectares of vineyards, with more than 3,000 winemakers, viticulturists, sales, distribute and support staffs. TWE wine is sold in more than 100 countries around the world.