ASX is one alternative for investors looking for a replacement for bank stocks within their portfolios. ASX offers 3.5% yield, (fully franked) and when combined with a covered call option, the cash flow is boosted to 10% p/a.
Our Algo Engine flagged a recent buy signal on the high low formation at $58.
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ASX is also a current holding in the ASX100 model portfolio, up 38% since being added back in September 2016.
