Eyes On Price Of Property Development Companies

Sun Herald

Sunday April 15, 2007

Regina Meani

IRREGULAR DEVELOPMENTS: An irregular consolidation phase has been developing for the share price of Australand, a property developer involved in medium and high-density housing, as well as commercial and industrial property. Oscillations may continue between $2.10 and $2.40 within the final stages of the phase with a further drop possible towards $1.90, before the upswing resumes towards $2.75 and $3.20 and possibly much higher. The risk would be a deeper pullback on a drop below $1.90.

STRONG SHOULDERS: Involved in property development and construction, with significant interests in retirement homes, property funds management and holiday accommodation, Becton's share price completed a head and shoulders pattern in January with the rise to $3.22. An initial target of $3.80-$3.90 has been overstepped and the price may pause within a buying opportunity before continuing higher towards $4.50 for another pause and then on towards $5.25-$5.50.

© 2007 Sun Herald

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