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This report is an updated version of the report published on 9 August 2023 at 4:14 PM (GMT+10).
Company Overview: Genex Power Limited (ASX: GNX) is an Australia-based energy and storage company with involvement in the development of a portfolio of renewable energy generation and storage projects across Australia. Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, 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 ratios above the below sections provide an in-depth fundamental, and technical analysis on this Electric Utilities stock along with recommendations, technical support and resistance levels and indicative stop-loss.
Section 2.0: Genex Power Limited (‘Speculative Buy’ at AUD 0.1375, current market price as on 9 August 2023)
2.1 Company Details
2.2 Stock Recommendation, and Technical Guidance
The stock has witnessed a decline of ~14% in 6 months and over the last 9 months, it has fallen by ~24%. The stock has a 52-week low and 52-week high of AUD 0.115 and AUD 0.240, respectively and is currently trading below the average of 52-week high-low average. GNX was last covered in a report dated ‘7 July 2023’.
Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 9 August 2023. 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.
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.
Kalkine Equities LLC provides general information about companies and their securities. The information contained in the reports, including any recommendations regarding the value of or transactions in any securities, does not take into account any of your investment objectives, financial situation or needs. Kalkine Equities LLC is not registered as an investment adviser in the U.S. with either the federal or state government. Before you make a decision about whether to invest in any securities, you should take into account your own objectives, financial situation and needs and seek independent financial advice. All information in our reports represents our views as at the date of publication and may change without notice.
Kalkine Media LLC, an affiliate of Kalkine Equities LLC, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.
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