Fortescue Metals Group has been in our ASX model portfolios since July 2019 with multiple buy signals. We are again presented with another reminder of the opportunity to accumulate FMG.
FMG is set to report its FY21 result on 30 August. An increase in shipments volumes and higher realised prices in FY21 will drive a strong financial result.
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Cleanaway Waste Management is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Traders may watch the price action for a bounce higher off the $2.40 support and an upturn in the short-term momentom indictaors.
Collins Foods is now under Algo Engine buy conditions.
Stop loss @ 10.18
The share price has now rallied to $11.01 and we see further upside to $11.80 – $12.00.
10/8 update:
CURE:AXW is under Algo Engine buy conditions and the current pullback provides another buying opportunity.
ETFS S&P Biotech ETF (ASX Code: CURE) offers investors exposure to U.S. biotechnology companies. These companies are engaged in research, development, manufacturing and/or marketing of products based on genetic analysis and genetic engineering.
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Zip Co is under Algo Engine buy conditions and the short-term momentum indicators are now trending higher.
Pointsbet Holdings is now under Algo Engine buy conditions and we see buying support building above the $9.30 support level.
PointsBet Holdings Limited will release its FY2021 Financial Results and Investor Update on Tuesday, 31 August 2021.
Insurance Australia Group pre-released guidance and announced its expectations for FY21E cash earnings of A$747mn and guided to low single-digit growth in FY22E.
IAG trades on a forward dividend yield of 3.8%.
Buy IAG with a stop loss @ $4.70
6/8 Update: IAG now trading $5.00
9/8 Update: IAG is trading $5.20 after Suncorp released strong earnings today.
Iron Ore prices are now down 20% from the May peak of US$230 p/t, with the overnight close at US$180 p/t.
We expect buying support to build within the US$150 – US$180 price range. This will provide an entry-level to add to BHP and FMG.
Watch for RIO to soon shift to Algo Engine buy signals.
BetaShares Global Banks is now under Algo Engine buy signals and is a current holding in our “ASX All ETF” model.
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