Aristocrat Leisure (ALL) is a $28 billion gaming company, focusing not only on poker machines, but online gaming as well.
“Apart from the covid years, Aristocrat Leisure (ALL) has consistently achieved double digit earnings growth,” Michael said.
“The share price had a great run in the first half of 2023 before hitting a brick wall near $42. “From August onwards, ALL had been trading sideways, with selling kicking in every time it hit the $42 area.
“However, the past few days has seen it finally get above that level.
“This means that the selling has dried up and ALL is free to resume its uptrend.
“This upside break is therefore a buying opportunity, and we expect the share price to head back up towards the old high near $48,” Michael said.
Aristocrat Leisure (ALL)
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