Wesfarmers – Algo Buy
Wesfarmers is under Algo Engine buy conditions.
Bitcoin – Sell Signal
The rebound in the NASDAQ has been sharp and it’s possible we’re now looking at a level of overhead resistance. For crypto investors, this provides an opportunity to consider hedging or an outright short position.
The strategy requires a stop loss which means any short exposure is closed out if the market rally continues.
7/4/22 update: BTC-USD has rolled over and the technical setup remains negative.
Watch Last Night’s Webinar
Sorry, but this content is restricted to our members.
Please login with your account or register for a free trial. If your trial has expired, then you may renew it here.
If you are having an issue with your account, then please get in touch with us.
Invocare – Algo Buy Signal
InvoCare is under Algo Engine buy conditions.
Collins Foods – Short-term Trade Setup
Collins Foods is under Algo Engine buy conditions.
Short-term traders may consider applying a stop loss below the recent pivot low.
Mirvac 1H22 Earnings
Mirvac reported 1H22 operating EPS of $0.075. FY22 guidance was reaffirmed at $0.15, aided by higher commercial development profits.
We continue to view the apartment and commercial pipeline as a key driver of growth following a softer-than anticipated 1H22 update.
MGR is now trading on a forward yield of 4%.
Collins Foods – Short-term Trade Setup
Collins Foods is under Algo Engine buy conditions.
Short-term traders may also consider the opportunity here with a stop loss below the recent pivot low.
US Inflation
U.S. consumer spending barely rose in February as an increase in spending on services was offset by declining purchases of motor vehicles and other goods, while price pressures mounted, with annual inflation surging by the most since the early 1980s.
XJO – Chart Review
The XJO is now trading at the upper band of the consolidation channel that’s been in place since mid-last year.
NASDAQ – Valuation Review
NASDAQ’s PE ratio is now 27X forward earnings with 2022 earnings growth rate forecast at 12.3%. The recent rally is a significant extension given the move higher in interest rates.
The graph below looks at the valuation of the S&P relative to US GDP.
Level 17 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453