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.
ANZ – Opportunity Approaches
Australia and New Zealand Banking Group is a current holding in our ASX 100 model portfolio.
Pressure from lower interest rates more than offset mortgage repricing benefits for the banks and we’ve seen 10%+ correction across the sector.
ANZ, WBC & NAB remain our preferred exposures and we highlight the buying opportunity which is approaching for ANZ.
Buy ANZ within the $25 – $26 price range.
BHP – Algo Buy Signal
BHP Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We recommend buying BHP.
Gold Finds Buying Support
As the gold price finds buying support our basket of preferred names, Northern Star Resources, Evolution Mining, Newcrest Mining and Vaneck Vectors Gold Miners are among the best percentage performers today.
We continue to like Northern Star Resources as our main gold play.
Banks
Australia and New Zealand Banking Group are the first of the big four banks to report annual profits. There was not much to like in the result, Net Interest Margin pressure along with headwinds on cost control, means the outlook was downbeat.
Macquarie Group’s first-half result is due today and it has guided the 2019-20 profit will be “slightly down” on 2018-19.
The market is certain of a dividend cut at Westpac, which reports November 4.
UBS has warned the second-half of 2018-19 will be remembered as the “high watermark” for the sector, ” as the outlook deteriorates in an ultra-low rate environment.
We prefer the short side of CBA.
Raytheon – Now Up 20%
Raytheon was a “high conviction” buy expressed on the blog in August. The stock price is now up 20%+ following back-to-back strong quarterly earnings results.
Next year United Technology shareholders will vote on the merger with Raytheon. We expect this to proceed and anticipate further shareholder value to be unlocked in 2020.
Raytheon is listed on the New York Stock Exchange. If you would like Investor Signals to manage your international share portfolio, please call us on 1300 614 002.
Webjet – Update
We highlighted the buying opportunity in Webjet at $10 and the stock is now trading $11.30.
Dexus – Algo Buy Signal
ResMed – Opportunity Approaches
ResMed is a current holding in our ASX 100 model portfolio.
The company reports 1Q20 earnings on 25 October and we expect revenue growth to be 15%+ and EBIT to be up 10%+ on the same time last year.
We look for an entry-level into RMD on the current price weakness and will update our readers further, following the earnings result.
Evolution Mining – Opportunity Approaches
Evolution Mining is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see a buy-side opportunity approaching following recent price retracement. Look for the short-term indicators to turn positive within the support range indicated on the chart below.
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