Alumina

Alumina is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

We see price support building at $1.38 and suggest traders watch the short-term momentum indicators and stay “long” AWC whilst the indicators trend higher.

Stop loss on a break below $1.38.

Aristocrat Leisure

Aristocrat Leisure has now switched to Algo Engine sell conditions and has been removed from our ASX 100 model portfolio.

Aristocrat delivered 1H20 net profit, (NPATA), of A$368mn which was down 13% on the same time last year. Growth in digital earnings was not enough to offset weak revenue in the Americas.

We’re not willing to look at shorting ALL as we see a normalization of the business conditions by 2022, we’ll revisit this name should we see a “buy on the dip” opportunity later this year.

NRW Holdings

ASX:NRW has been among the best-performing stocks over the past few sessions following a strong trading update.

NWH indicated they have a strong pipeline of new projects as an acceleration of public infrastructure spending occurs.

Based on FY21 earnings of $160mn we have the stock on a forward yield of 4.1%.

BHP

BHP Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

Declining port stocks and concerns over Brazil supply support a positive outlook for iron ore prices. A combination of strong iron ore prices and the recovery in the energy complex should continue to support the BHP share price.

Boral

Boral is in our focus following the price trading below our target of $2.50 and the short-term indicators now turning back up.

See highlighted support levels in the chart, a break below these levels will trigger a stop loss.

Buy BLD above $2.50.

Ampol

Ampol is current holding in our ASX 100 model portfolio.

Caltex has had a name change to Ampol and the new ticker is “ALD”.

The move comes after U.S. oil company Chevron terminated the licensing agreement allowing Caltex Australia to use the Caltex name. Ampol was originally founded as the Australian Motorists Petrol Company in 1936 in an effort to combat unfair petrol prices, later merging with the Australian arm of Caltex in 1995.

Commonwealth Bank

We remain cautious on the banks and feel the trough in the share price may be two to three months out from now, at which point a good long-term buy opportunity will be in place.

Short term we continue to watch CBA track below the downsloping resistance.

James Hardie

James Hardie Industries is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

JHX will report FY20 earnings tomorrow and previous guidance of $350m to $355m was provided on the 5th May.

The weak demand environment ahead for new residential construction will likely weigh on earnings. The fall in the share price from $33 to $21 allows for these headwinds and a discounted valuation argument builds for both JHX and BLD.

Note: James Hardie has suspended the payment of dividends.