This is an updated version of the report published on 7 July 2023 at 3:55 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 metrics above the below sections provide in-depth fundamental, and technical analysis on this Renewable Energy Producer along with recommendation, technical support, and resistance level & indicative stop-loss.

Section 2.0: Genex Power Limited (‘Speculative Buy’ at AUD 0.150 closing market price per share as on 7 July 2023)

2.1 Company Details

2.2 Valuation, Technical Summary & Stock Recommendation

The stock has witnessed a dip of ~5.88% in last three months, and over the last nine months, it has decreased by ~23.81%. 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 52-week high-low average. GNX was last covered in a report dated ’1 March 2023’.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

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

Note 2: The reference date for price data is based on 7 July 2023, and all other data such as technical indicators, support, and resistance levels are as of July 10, 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.

Disclaimer

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.