Company Overview: SHAPE Australia Corp Limited (ASX: SHA) is a leading Australian specialist in commercial fit-out and refurbishment, including commercial office, defense, education, and health, providing construction, project management, and maintenance services. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on this stock.

Recent Updates:

SHAPE Australia Corporation Limited delivered a positive H1 FY26 result, with revenue up 16% to AUD 553.3m, EBITDA rising 45% YoY to AUD 21.4m, and NPAT increasing 49% YoY to AUD 14.0m, supported by gross margin expansion to 9.8%. EPS grew 48% to 16.8 cps and the interim dividend was lifted 40% to 14.0 cps. Growth was driven by sector diversification, particularly stronger education and industrial/data centre wins, accelerating modular revenues (and a 33% increase in backlog to AUD 686.1m, alongside a ~AUD 3.8bn pipeline. The Arden acquisition also enhances exposure to higher-margin retail fitout and recurring maintenance streams.

However, with the stock trading close to its 52-week high. While earnings momentum and backlog visibility remain supportive, risks include potential margin normalisation in a competitive construction environment, cost inflation and project execution risks, integration risk from Arden, and broader cyclical exposure to commercial construction activity. At elevated levels, valuation may already reflect much of the near-term growth, limiting upside unless H2 performance materially exceeds expectations.

SHA’s Technical Analysis:

On the daily chart, SHA's stock price is undergoing an uptrend characterized by higher highs and higher lows, indicating a positive bias. In contrast, the RSI (14-period) is developing a top divergence near its overbought territory, anticipating a potential correction. Prices are trading between its previous peak and trough, which may potentially function as resistance and support levels for the stock, respectively. Crucial support for the stock is positioned at AUD 6.36, while key resistance is placed at AUD 7.60.

Daily Technical Chart – SHA

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

Considering the stock’s current price levels forming higher peaks and higher troughs, and momentum oscillator analysis, a “Watch” recommendation is given on the stock. The stock was analysed as per the closing price of AUD 7.16 per share as on 23 February 2026, down by 2.45%.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: 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 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

The reference date for all price data, currency, technical indicators, support, and resistance levels is February 23, 2026. The reference data in this report has been partly sourced from REFINITIV.

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.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange/ Yellow colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.