Coles – Algo Buy Signal
Coles Group is under Algo Engine buy conditions.
Investors should look to accumulate a position in Coles, within the highlighted price range.
BHP – Algo Buy Signal
BHP Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Altium – Buy Signal
Altium is under Algo Engine buy conditions.
AZJ – Buy Signal
Aurizon Holdings is under Algo Engine buy signals.
Aurizon reported underlying earnings before interest taxation depreciation and amortisation (EBITDA) of $1.48 billion and told investors to expect underlying EBITDA of between $1.42 billion-$1.5 billion in fiscal 2022.
Zip – Algo Buy
Zip Co is under Algo Engine buy conditions.
PayPal Holdings said it would acquire Japanese buy now, pay later firm Paidy in a $2.7 billion largely cash deal, taking another step to claim the top spot in an industry experiencing a pandemic-led boom.
iShares S&P/ASX Dividend Opportunities ETF
iShares S&P/ASX Dividend Opportunities is now under Algo Engine buy conditions and has been added to our ETF model portfolio.
The fund aims to provide investors with the performance of the S&P/ASX Dividend Opportunities Accumulation Index, before fees and expenses. The index is designed to measure the performance of 50 ASX listed stocks that offer high dividend yields while meeting diversification, stability and tradability requirements.
US Banks
US bank profits fell 8.3% to $70.4 billion in the second quarter of 2021 as firms slowed their reductions in credit loss provisions, the Federal Deposit Insurance Corporation reported.
AZJ – Buy Signal
Aurizon Holdings is under Algo Engine buy signals.
Aurizon reported underlying earnings before interest taxation depreciation and amortisation (EBITDA) of $1.48 billion and told investors to expect underlying EBITDA of between $1.42 billion-$1.5 billion in fiscal 2022.
Mineral Resources – Buy
Mineral Resources is under Algo Engine buy conditions and is in our ASX 100 model portfolio.
The share price has fallen 20% from the July high, as the iron ore price rolled over from $220/t to $130/t.
The strong lithium market (particularly spodumene with spot at US$1,250/t) offsets some of the weakness in iron ore and the growth outlook for MIN remains attractive.
The likely approval of Ashburton in the coming months is a key positive for the stock. Key decisions around Ashburton development hub and Wodgina restart are likely at the group AGM scheduled for 18th Nov.
Accumulate within the $42 – $52 price range.
Macquarie Group – 1H22 Earnings
Macquarie Group is under Algo Engine buy conditions and is a current holding in our model portfolio.
Macquarie Group (MQG.AX) has provided an update on its guidance, in which it now expects 1H22 NPAT to be slightly down on 2H21.
The is a positive relative to the negative expectations that the market had for earnings to be down 10 – 15%.
A good outcome for the full year FY22 will be flat on FY21, which places MQG on 21x earnings and 3% dividend yield.
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