Coles – Another Opportunity
Coles Group looks like it will retest the recent $16.60 higher low formation.
We see value within the broad price range of $16 to $17 and suggest investors accumulate a position.
Cleanaway – Where are the Buyers?
Cleanaway Waste Management is currently trading on the $2.15 support level, however, the sellers appear to be in control.
The next support level down is $2.00 and we’ll be watching the short-term momentum indicators for the first sign of buying pressure rebuilding.
Target range is now $2.00 – $2.15.
Brambles – Support
Brambles is now approaching the $10 support level and we suggest accumulating the stock within the $10 – $10.50 price range.
Banks
BetaShares Global Banks remains our preferred instrument to gain broad exposure to a potential long-term recovery in the banking sector.
Risks remain extremely high for the sector, in the short-term.
XJO & BBOZ
The XJO index has hit resistance at 6250 points and is now trading below the 10 day average.
BBOZ provides an opportunity to profit from a downside move in the index, should selling momentum continue.
Bega – Price Support
Bega Cheese has continued to see buying interest above the $5.00 support level.
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Ramsay Healthcare – Buy
Ramsay Health Care is under Algo Engine buy conditions and is a current holding in our model portfolio.
Valuation support within the $61 – $63 range.
Brambles – Buy
Brambles is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
Accumulate within the $10 – $10.50 price range.
Fortescue Metals – Buy
Fortescue Metals Group has been in our model portfolio following the buy signal at $8.30 on 26 July 2019. More recently, we’ve seen another entry opportunity flagged by the Algo Engine at the $15.50 higher low formation.
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