Australian Agricultural Company Ltd

• 2019-09-24
• Traiding Idea

Australian Agricultural Company Ltd Established in 1824 is Australia’s largest integrated cattle and beef producer, and is the oldest continuously operating company in Australia.Today, AACo owns and operates a strategic balance of properties, feedlots and farms comprising around 6.4 million hectares of land in Queensland and the Northern Territory. This equates to roughly 1% of Australia’s land mass. AACo specialises in grain fed beef and Wagyu beef production.

Financial Summary

For the fiscal year ended 31 March 2019, Australian Agricultural Company Ltd revenues decreased 4% to A$364.1M. Net loss increased 45% to A$148.4M. Revenues reflect LIVING STONE BEEF segment decrease of 65% to A$32.2M, United States segment decrease of 72% to A$19.9M, Other countries segment decrease of 30% to A$87.1M. Higher net loss reflects Cattle fair value adjustments decrease of 64% to A$58.4M (income).

Technical Analysis

we have an downward trend for Australian Agricultural Company Ltd since july 2016 for more than three years and now  the price is from middle of February 2019 in a Symmetrical Triangle and Compressing for an impulse movement. The price has been broken the triangle about 4 days ago and now is pulling back to the bottom of triangle. After completing pullback we can except a big movement for about 270 pips.

Elliot Wave:

On the Daily chart, a downward wave developed and the price is completing wave (3).  the wave 3 could be ended at 161.8% fibonacci and then begun a correction for wave (4)

Trading tips:

To open short positions please wait for pullback when completed open the position or use pending order in level 0,98.
TP1:  S2 Monthly @ 0,915
TP2:  S3 Monthly and intersection with Fibo 161,8% @ 0,835