ASX – Algo Buy Signal
ASX is building support at $78.50 and is now trading higher coming into the February earnings result.
The market is forecasting 5% EPS growth and an ongoing yield of 3%.
Coles Group – Finds Buying Support
Coles Group is under Algo Engine buy conditions and is now up 21.88% since being added to the ASX 100 model portfolio back in August last year.
We have since had a further higher low formation at $15 and new buying support is building.
We see limited upside based on the current valuation and investors are advised to apply a covered call strategy to enhance the income return. For more details on the strategy, please call 1300 614 002.
Woolworths Group was added to the model in August 2018 and is now up 38.29%
Telstra – Up 7.8%
Telstra Corporation was added into our ASX 100 model portfolio in September last year at $3.57.
The stock is now up 7.8% to $3.85 and is approaching short term overhead resistance.
TPG Telecom is also under Algo Engine buy conditions.
NHF – Buy
NIB Holdings is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
The share price is supported by a 4%+ dividend yield and mid-single-digit earnings growth.
Buy $6.50
Telstra – Buy Signal
Telstra Corporation is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
We see value at $3.58
Aurizon – Buy
Aurizon Holdings is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see buying support building at $5.30 and expect the share price to soon trade into the $5.50 to $5.75 range.
AZJ goes ex-div $0.114 on the 25th February.
Evolution Mining – Buy Signal
EVN is a current holding in our ASX100 model portfolio and the share price looks like it will retest the $4.550 price level.
We recommend investors begin building a long position in the stock.
GDX – Gold ETF
The below post is a copy of a publication on the 18th of October. Since making the post, gold stocks have performed well and we now look to trim the gains and rotate into oversold industrial & REIT names.
Vaneck Vectors Gold Miners is under Algo Engine buy conditions following the entry condition earlier this year at $30. It is a current holding in our ALL ASX ETF model portfolio.
GDX ETF has corrected from $45 to $38 over the past 8 weeks. We feel buying support will now begin to increase.
Individual names are also now appearing on the radar, such as Newcrest Mining Northern Star Resources, Evolution Mining, OceanaGold and Gold Road Resources.
UBER – Algo Sell Signal
Uber Technologies is under Algo Engine sell conditions following a series of lower high formations since listing in May 2019.
The stock enters our radar as a potential for a short-covering rally. We expect weaker trading in the near-term but have set an alert to review the stock again should we see it trade below $25 per share.
NIB Holdings – Buy
Our call for NIB Holdings to find support and trade higher into the February earnings result is now gaining traction.
The price action found support at $6.60 and we expect to soon see a test of the $7.00 – $7.50 range.
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