Pexa Group has helped transform conveyancing from a clunky paper-based process into a digital one. PXA was recently listed on the ASX with a market cap of $3bn.
FY21 underlying earnings doubled to $110 million and analysts are forecasting a further 20% increase in FY22.
CBA & Link are major shareholders.
Domino’s Pizza Enterprises is under Algo Engine buy conditions. Investors should consider accumulating DMP within the $95 – $120 price range.
Brambles is under Algo Engine buy conditions and has now been added into our ASX model portfolio.
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BlueScope Steel is under Algo Engine buy conditions.
The passing of the traditional infrastructure bill is a strong positive for the economy and for markets, we expect to see continued strength in the materials sector.
Our preference is the (ASX:OZR}
Iron Ore prices have collapsed to trade at 90 p/t. We shift to an overweight position and anticipate a rebound in the new year.
5-year graph
10-year graph
Spot gold is up 1.2% to US$1,816.80 per ounce, as yields on the U.S. 10-year Treasury notes slipped to their lowest level in about a month.
Treasury Wine Estates is under Algo Engine buy conditions.
TWE continues to adjust to a post pandemic/post Chinese tariff environment. FY21 EBIT of $510 exceeded market expectations. After a number of years of disappointment for TWE in this region, we see America’s division accelerating growth into FY22.
FY22 EBIT growth is forecast to be in the mid to high single-digit range.
8/11 update: Buy above the $11.50 support range and place the stop loss below the recent pivot low of $11.48.
Evolution Mining is under Algo Engine buy conditions.
Trader instructions
Buy: @market above $3.50 support
Sell: stop loss $3.45
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