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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Trade idea: ACX price in recovery

Aconex Limited is an Australian company providing project collaboration technologies to clients in construction and engineering.

ig_trading_floor_5
Source: Bloomberg

In the growing infrastructure world of 2017, the ACX chart is looking interesting due to the breakout from the downtrend line.

The relative strength indicator (RSI) gave a “swing buy” signal last week.

The first resistance level at $6.80 would be the current price target, with a stop loss set at $5.00 – this week’s low.

ACX-chart

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.

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