Company Overview: APA Group Limited (ASX: APA) is an energy infrastructure business engaged in the energy infrastructure business. The Company's activities include gas transportation and storage, gas distribution, asset management, and renewable and gas-fired power generation. Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, and Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.
Section 1.0: Key Metrics in Pictures
Having looked at the key financial metrics above the below sections provide an in-depth fundamental, and technical analysis on this Utilities Stock along with recommendation, technical support, and resistance level & indicative stop-loss.
Section 2.0: APA Group Limited (‘Buy’ at AUD 8.210, current market price per share as on 23 January 2024)
2.1 Company Details
2.2 Valuation, Technical Summary & Stock Recommendation
The stock has witnessed a dip of more than 6% in the last 1 month, and over the last six months, it has decreased by over 16% %. The stock has a 52-week low and 52-week high of AUD 7.870 and AUD 10.985, respectively, and is currently trading below the 52-week high-low average. APA was last covered in a report dated ‘5 January 2024’.
(Source: REFINITIV; Analysis by Kalkine Group)
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 23 January 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Dividend Yield may vary as per the stock price movement.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.