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Technical analysis

Incitec Pivot Ltd - Chart Analysis - Week Ahead 5th December 2022

Incitec Pivot

Check out the trading idea of the week below, by your friendly, neighbourhood market analyst!

Trading Idea of the Week

ASX:IPL - Incitec Pivot Ltd

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Had a very positive earnings result, with earnings of $1.485bn were a slight beat against UBS and consensus expectations and up 162% on the previous period
  • Goldman Sachs is Buy rated with a target price of $4.40.
  • Due to the variability in commodity prices and FX movements, the company normally doesn’t provide profit guidance, however the company noted the following:

  • Dyno Nobel Americas: Is well placed to benefit from heightened ammonium nitrate pricing. Negative impacts of higher inflation, energy costs and supply chain dislocations are expected to be mostly recovered in FY23 through price escalations and contract negotiations.

  • Dyno Nobel Asia Pacific: Favourable pricing conditions on the East Coast of Australia are expected over the re-contracting cycle.

  • Fertilisers Asia Pacific: Will continue to be dependent on global fertiliser prices, the A$:US$ exchange rate and weather conditions. 


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