NASDAQ’s PE ratio is now 27X forward earnings with 2022 earnings growth rate forecast at 12.3%. The recent rally is a significant extension given the move higher in interest rates.
The graph below looks at the valuation of the S&P relative to US GDP.
9/4 update: The downside momentum continues in the NASDAQ.
Goodman is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We expect 14% EPS growth into FY22 .
Telstra Corporation is under Algo Engine buy conditions.
James Hardie Industries is approaching an oversold range where investors should begin monitoring the short-term momentum indicators for a pick-up in buying activity.
The price range for a reversal in price action remains wide at $33 to $39.
James Hardie Industries is approaching an oversold range where investors should begin monitoring the short-term momentum indicators for a pick-up in buying activity.
The price range for a reversal in price action remains wide at $33 to $39.
Aristocrat Leisure is under Algo Engine buy conditions.
Wesfarmers is under Algo Engine buy conditions.
InvoCare is under Algo Engine buy conditions.
Collins Foods is under Algo Engine buy conditions.
Short-term traders may consider applying a stop loss below the recent pivot low.
Mirvac reported 1H22 operating EPS of $0.075. FY22 guidance was reaffirmed at $0.15, aided by higher commercial development profits.
We continue to view the apartment and commercial pipeline as a key driver of growth following a softer-than anticipated 1H22 update.
MGR is now trading on a forward yield of 4%.
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