ASX Signals for July 31, 2020
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ASX 200 & BBOZ
Betashares Australian Equities is up 5% from the recent low as the XJO rolls over below the overhead resistance, which has built up at the 6200 level.
We expect a similar pattern to develop in the S&P500 equivalent BBUS.
ASX Signals for July 30, 2020
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Crown – Sell
Crown Resorts is under Algo Engine sell conditions and we see increasing selling pressure due to a weak earnings outlook.
Risks remain elevated coming into the next earnings release.
Amcor – Resistance $15
Amcor is under Algo Engine sell conditions and we see increasing selling pressure due to a weak earnings outlook.
Risks remain elevated coming into the next earnings release.
Aurizon – Trading Lower
Aurizon Holdings has been under Algo Engine sell conditions following the lower high formation at $5.00
Further downside price action is likely and yield support will build at $4.00 – $4.25. We’ll revisit AZJ once it trades into this range.
Worley – Sell Signal
Worley is under Algo Engine sell conditions and we see increasing selling pressure due to a weak earnings outlook.
Risks remain elevated coming into the next earnings release.
ASX Signals for July 29, 2020
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Computershare – Sell
Computershare is under Algo Engine sell conditions and we see increasing selling pressure due to a weak earnings outlook.
Risks remain elevated coming into the next earnings release.
Aristocrat – Sell
Aristocrat Leisure is under Algo Engine sell conditions and we see increasing selling pressure due to a weak earnings outlook.
Risks remain elevated coming into the next earnings release.
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