Investor Club: Top 5
Following last night’s webinar, I highlight below my top 5 to ideas to focus on in today’s market.
- LLC
- TAH
- WPL
- STO
- HLTH
Lendlease: Buy + Stop Loss
Lendlease provides a great way to play a recovery in the oversold property names. Buying momentum is increasing but a stop loss is required at the $6.09 pivot low.
Cloud ETF: Buy
BetaShares Cloud Computing is under Algo Engine buy conditions and we expect buying support to hold at $10.50
Westpac: FY22 Earnings Review
Westpac Banking reported FY22 earnings of $7.195bn which is up 12% on the same time last year. Total FY23 dividends $1.42 which represents a payout ratio of 70%.
WBC announced they will commence a $1.5bn on-market share buyback.
Tabcorp: Add to Watchlist
TABCORP Holdings is forming the FTFF pattern and we’re now watching for a trade entry confirmation near $0.80
Altium: Investor Day
Altium is under Algo Engine buy conditions.
ALU’s investor day on 16 November will provide an update on revenue guidance and further details on its
fast-growing 365 cloud product.
CURE ETF: Strong Buy
Global X S&P Biotech is under Algo Engine buy conditions and upgrade this to a strong buy rating.
Intel: Strong Buy
{INTC.NAS} offers tremendous upside over the next 2 – 5 years. The shift from sell into buy conditions occurred in October & our upside target is $50 – $60. Q423 adj EPS guidance is $0.44, which places Intel on a forward PE of 37.
Hang Seng Index
We see value in the Hang Seng index and expect 2024 to be when global macro funds reallocate to Asian equities. Our preference is Asia’s top 50 and large-cap tech companies.
XJO & Market Direction
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