The Lendlease Group is a multinational project property developer and manager based in Sydney. It is an iconic Australian company with a long-standing and proud history of building construction founded by Dutch Engineer Gerardus (Dick) Jozef Dusseldorp who was sent to Australia in 1951 by the Dutch home construction firm Bredero’s Brouwbedrijf at which he and his brother Hank worked after the 2nd World War ended.
The construction firm Civil and Civic he established metamorphosed into Lend Lease Corporation, and he chaired it until his retirement in 1988. The current CEO since 2008 is Steve McCann.
Chart 1 is a monthly one extending back 20 years to show the big picture. The share-price has oscillated widely from a central support resistance level at about $14.65. There have been three broad peaks of the share-price at diminishing highs occurring at about 8 year intervals.
Chart 2 shows the share-price performance in the past 12 months.Of interest is the price action in the last half of 2016 with an upwards trend line of lows and an horizontal resistance level for the highs at $14.65. The latter has been respected on four occasions thus far. A breakout above this resistance might herald further gains.
This post is presented as an academic exercise in Technical Analysis only, since the writer does not own shares in LLC at this time. Readers seeking investment advice about the Lendlease Group should consult their stock-broker or qualified financial adviser.