IPL – Buy Signal
We’ve been tracking IPL for a turn higher in the short-term momentum indicators. It now appears that buying interest is increasing and we’ve seen the price action find support at $3.00.
SPDR Property Fund ETF – Approaching Support
SPDR S&P/ASX 200 Listed Property is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
We anticipate buying support will build within the $13 to $13.50 price range.
QBE – Finds Buying Support
QBE Insurance Group is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
Support at $12.00
Evolution Mining – Buy
Evolution Mining is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
The backdrop should now support a rally in gold prices and EVN offers upside from the current $3.80 level.
Star Entertainment – Switches to Buy Conditions
The Star Entertainment Group is now under Algo Engine buy conditions following a recent high low formation at $4.55.
We’re attracted to the longer-term fundamentals for Star but have been reluctant to hold the position whilst the stock was under sell conditions. The recent break higher in price and the shift to Algo buy conditions, means we’ve added Star back into our model portfolio.
The February earnings result will be a key catalyst, where the market will be looking for earnings growth beyond just cost control.
Lendlease – Finding Support
Lendlease is under Algo Engine buy conditions and the recent retracement in price from $20 to $18 provides another entry opportunity.
We expect buying interest to increase between $16.50 – $18.00.
IAG – Algo Buy Signal
Insurance Australia Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see price support for IAG at $7.50
Coles – Value is Approaching
Coles Group is under Algo Engine buy conditions following the August buy signal at $13.00.
Since then Coles has rallied to $16, supported by investor enthusiasm for the aggressive cost-cutting program. As the stock price settles back we highlight the $14.50 level, as an area where value will again re-emerge.
Buy Coles within the $14.00 to $15.00 price range.
ASX – Algo Buy Signal
ASX is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see price support for ASX at $78.00
Invocare – Buy Signal
InvoCare is under Algo Engine buy conditions and the short-term indicators are now turning positive.
We see buying support building near $12.50
FY20 EPS growth should be 6%+ and we have the stock on a forward yield of 3.2%.
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