Sonic Healthcare- Support Range
Sonic Healthcare is under Algo Engine buy conditions. The underlying earnings remain strong and we expect buying support to build within the $34 – $38 price range.
Woolworths – Accumulate
Woolworths Group announced a disappointing trading update which revealed COVID had weighed heavily on earnings during the first half. The retailer anticipates $215mil in COVID-related expenses and before tax profit to fall from $1.3bn to $1.2bn.
We see value in the stock within the highlighted price range.
HACK – ETF Buy Signal
Betashares Global Cybersecurity is under Algo Engine buy conditions and is a current holding in our All ASX ETF model portfolio.
We see support building at $7.00 and expect 5 to 10% upside in the next 6 weeks.
7/4/22 HACK Update: Since writing the above post, HACK has rallied to a new higher low formation at $9.76. Buy HACK at market and run a stop-loss below $9.76.
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December 2021: ASX Algo Performance
The updated 5-year performance data for all Algo Engine buy and sell signals for the period ending 30 December 2021 .
Model Name: ASX S&P100 is 16.96% p/a.
Collins Foods – Live Education
Collins Foods is under Algo Engine buy conditions. Buying support is likely to increase within the highlighted price range.
7/2/2022 Update: The price action has found buying support at $10.70 and is now trading $12.00
8/2/2022 Update: Investors will hold Collins Foods as long as the stock remains under Algo Engine buy conditions.
Traders will refer to the 10-day average as their trailing “take profit” marker.
Gold Road – Update
Gold Road Resources remains our preferred gold exposure.
8/2/22 Update: Algo investors are likely already set in GOR. Traders will now be recognizing the first test, first fail, (FTFF), and will be setting their entry and stop loss.
Syrah Resources
Syrah Resources is under Algo Engine buy conditions.
The company has announced a fully underwritten institutional placement and 1 for 5.9 pro rata accelerated non-renounceable entitlement offer to raise a total of approximately $250 million.
Star Entertainment
The Star Entertainment Group is under Algo Engine buy conditions.
The Star says it expects to report normalised EBITDA of $28 million to $30 million in the first half and the group is likely to see strong revenue growth under normalising business conditions.
Collins Foods – Buy Signal
Collins Foods is under Algo Engine buy conditions. Buying support is likely to increase within the highlighted price range.
7/2/2022 Update: The price action has found buying support at $10.70 and is now trading $12.00
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